Find out more about Papaya Global Employees Payroll Calendar ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work 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 advantages packages to global workers despite the variety of workers in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every country, develop regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total work expenses dispersed per place, 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 methods for as Mark stated I work across the business managing and structure external relationships supporting Business clients and services in addition to functioning 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 global business, 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 workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to meet 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 industry, I have actually focused on payroll and payment services for the past seven 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 six years where I've kind of had a variety of different functions on the supplier side and also on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting 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 actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak and I want I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll also discuss a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more typical and managing them ends up being more and more complicated International companies are seeking to discover Solutions and brand-new ways to streamline procedures specifically from a payroll and cross-border payment viewpoint many organizations preserve different bank account just for payroll while some have several accounts in various nations does it make good sense for business to preserve different bank accounts sometimes in different nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they include more intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated 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 consider that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll design there's often a frustrating variety of various systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or really very basic there's no genuine consistency structure 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 frequently with pen and paper which just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of an image they see an absence of exposure likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of international companies have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors inadequately interacted hires and terminations along with absence management and system setups and then when you round all of it off and the data is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the necessary numerous procedures 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 challenges business face when they're paying to employees or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's differing 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 abilities 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if but some children 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 innovation is permitting us to kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide 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 information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by companies throughout the world so once again you're just aiming to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or real challenging sort of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a number of decades I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost point of view from an effect perspective on employees it is absolutely vital 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 greatest damaging result on people's well-being and lots of other elements if people aren't paid uh I've constantly been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another huge um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of companies and reducing the variety of tools platforms and savings account they need for their International payroll too could not 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 anticipate to you do get the odd 5 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 think any of us are actually doing that for for the thanks
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 easy as possible for everybody that's associated with those procedures and likewise so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to return to everyone so moving on appearance why do business choose to main separate savings account there are businesses out there doing precisely this for specific nations and I've worked in a service or lots of services doing precisely that I can state it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person 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 believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires altering however eventually individuals are very stuck to what they recognize
with right um change is a challenging thing we all don't like modification um so I believe it's just type 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 clearly the benefits of having maintaining several savings account but there's a huge quantity of complexity opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is big but I think the sincere response is change um people have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking 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 always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does position several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of 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