Find out more about Papaya Global Security ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reliable approach of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Worker Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive benefits plans to international workers no matter the number of workers in the company. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every country, develop regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment costs distributed per location, overall work expenses per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and building external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've kind of had a range of various functions on the service provider side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually 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 really really uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up and that must leave his time at the very very 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 labor forces end up being more and more common and managing them ends up being a growing number of complex Worldwide organizations are aiming to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment perspective numerous organizations keep different bank account just for payroll while some have several accounts in various nations does it make sense for companies to keep different checking account in some cases in various nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business simplify the episode complex processes of
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most significantly regulations compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the worldwide Workforce is currently three and a half billion people by 2030 it's approximated 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 businesses and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming number of different systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or really really standard there's no genuine consistency framework we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide companies have expressed that they do not 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 information information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect place the typical cost of an international 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 smoothly if they count on the required 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 obstacles organization face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought of there's varying Bank details 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is absolutely crucial 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to sort of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance teams work better together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 process it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is ending up being increasingly complex. Services are continuously introducing new advantages and payment alternatives, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced era, there's no validation for maintaining cumbersome procedures. Payroll, the company's biggest expense, must be processed properly and on time. Even small hold-ups can adversely affect workers' wellness and have far-reaching consequences. Therefore, it's important to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll option for your workers worldwide again I believe is another big um procedure again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of companies and reducing the number of tools platforms and checking account they need for their Global 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 ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential a role 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 simple as possible for everyone that's associated with those processes and likewise so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of shot to get back to everyone so proceeding appearance why do business select to main different bank accounts there are companies out there doing precisely this for specific nations and I've operated in a company or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not developing extra work for any person where we don't need to and any person that's dealing with that process 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 lots of factors one is it's the standard I believe people have got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a procedure that requires looking at it requires altering however eventually individuals are extremely stuck to what they're familiar
with right um change is a difficult thing all of us do not like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having maintaining multiple checking account but there's a big amount of intricacy chooses setting up a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is big but I believe the sincere response is change um individuals haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we have actually always 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 understand what could nearly be determined to be the next Century approximately there is a lot to keep track of and this method does posture 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 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 gained another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication 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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