Find out more about Papaya Global Trustpilot ... 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 gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Staff member Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to international employees despite the number of staff members in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local benefits providers in every nation, develop regional accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment expenses distributed per place, overall employment costs per cycle and much more.
environments around the world I provided management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business managing and structure external relationships supporting Enterprise clients and solutions along with serving as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone 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 really very uninspiring and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business maintain separate
checking account 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 possession uh we'll likewise discuss a recap and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and managing them becomes a growing number of complicated International organizations are looking to discover Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment perspective numerous companies preserve different savings account just for payroll while some have multiple accounts in various nations does it make sense for companies to preserve different savings account in some cases in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments precisely efficiently firmly and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 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 traditional payroll design there's frequently an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or very very standard there's no real consistency framework we're residing in a period of tech but payroll has actually 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 every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on international payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the required multiple 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 service 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 doesn't need to be consisted of ideal and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to kind of move on with that it likewise also to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry 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 data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming significantly intricate. Organizations are constantly presenting brand-new benefits and payment options, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's highly sophisticated period, there's no validation for maintaining troublesome treatments. Payroll, the company's most significant expense, need to be processed correctly and on time. Even small delays can negatively impact workers' wellness and have significant effects. Therefore, it's critical to prioritize accurate and prompt payments.
payroll group 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 great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle we all become aware of it when it fails everyone 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a great first step um providing an end-to-end payroll option for your staff members internationally once again I believe is another substantial um procedure once again aligning and ensuring you have standardization Global processes all of those things are definitely key to success success of organizations and minimizing the number of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how important 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 simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean all those up for sure oh absolutely 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 browse them and really see what was going on and kind of shot to get back to everybody so proceeding appearance why do companies pick to primary different checking account there are companies out there doing exactly this for particular countries and I've operated in a business or lots of services doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for anyone where we don't need to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I believe people have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it needs changing however eventually individuals are very stuck to what they recognize
with right um change is a difficult thing all of us do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having maintaining numerous bank accounts but there's a substantial amount of intricacy goes with establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the intricacy is substantial however I think the sincere answer is change um people haven't had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to track and this approach does pose numerous obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I 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 commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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