Find out more about About Papaya Global Payroll ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
Employee Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international workers no matter the variety of staff members in the business. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every country, develop local accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs dispersed per place, overall employment costs per cycle and a lot more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and structure external relationships supporting Enterprise customers and options in addition to acting as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill 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 market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of different roles on the service provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple 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 intriguing 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 everybody comes 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 really extremely dreary and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll also review a wrap-up and that should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of typical and managing them becomes more and more intricate International companies are looking to find Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment standpoint many organizations keep different bank account just for payroll while some have several accounts in different nations does it make good sense for business to maintain different savings account sometimes in different nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies improve the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome task into a strategic property.
Managing payroll worldwide is a challenging task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, resulting in disparities and inadequacies. Despite residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to provide insights and options to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide services have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong 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 money around the world payroll and payments don't run smoothly if they rely on the required several 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 obstacles service face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't require to be consisted of right and what does
it require 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 timespan there's payment abilities 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 customer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also as well to add to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance groups work better together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation 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 information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being used by organizations across the world so again you're just aiming to add a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine difficult sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams 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 doesn't always require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an age that you know that we are operating 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 greatest liability that any organization has from an expense perspective from an impact point of view on employees it is definitely critical that it's done correctly and on time so what we suggest 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 aspects if individuals aren't paid uh I have actually constantly been impressed entering into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has actually been told 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 employees or not um however eventually payroll is such an essential cycle all of us find out about it when it fails everyone 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 things is absolutely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll service for your employees globally again I believe is another big um process once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and decreasing the number of tools platforms and bank accounts they require for their Global 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh absolutely 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 type of shot to get back to everybody so proceeding look why do business select to primary different bank accounts there are services out there doing precisely this for specific nations and I've worked in a company or numerous organizations doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I think people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but eventually individuals are very stuck to what they recognize
with best um change is a hard thing we all don't like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having preserving multiple checking account but there's a big quantity of complexity chooses establishing a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial however I believe the honest answer is change um people haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly 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 nearly be identified to be the next Century approximately there is a lot to monitor and this method does posture numerous difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global