Find out more about Papaya Global Payroll Approval ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll procedure, conserving me a significant amount of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to international staff members no matter the number of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every country, produce regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per area, overall work costs per cycle and much more.
Globally, I have actually shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for supervising payroll strategies, as discussed by Mark. My function includes handling and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for a lot of prominent business on the planet we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending upon where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a range of various functions on the provider side and likewise on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I wish I was somewhere else at this moment in time fine 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 managing International payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them ends up being increasingly more complex Global companies are aiming to discover Solutions and new methods to streamline processes specifically from a payroll and cross-border payment standpoint many companies preserve different savings account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep separate checking account sometimes in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business streamline the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in enough in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or very extremely fundamental there's no genuine consistency framework we're residing in an age 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 and that just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in worldwide payroll the less of a picture they see a lack of presence also encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international services have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes inadequately communicated hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the needed multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're making payments to employees or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it need to be considered there's differing 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 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 any place you look right ultimately constructing a knowledge base is definitely critical however all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always amazed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of complexity there's a growing number of benefits being organ or being provided by services throughout the world so once again you're just looking to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real challenges or genuine challenging type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of years I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need 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 just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost viewpoint from an impact viewpoint on workers it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant detrimental result on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm unsure anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails but 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 important that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a fantastic initial step um providing an end-to-end payroll solution for your employees internationally again I believe is another substantial um procedure once again lining up and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of organizations and lowering the variety of tools platforms and savings account they require for their Worldwide 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 processes and also so think of sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to return to everybody so carrying on look why do business pick to primary separate bank accounts there are businesses out there doing exactly this for particular nations and I have actually worked in a service or lots of services doing exactly that I can state it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not creating extra work for anyone where we don't have 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 amount that we are I believe lots of factors one is it's the standard I think individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll purposes however 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 embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs altering however eventually people are very stuck to what they're familiar
with right um modification is a difficult thing we all do not like modification um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining numerous savings account but there's a big amount of complexity opts for setting up a bank account preserving 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 big however I believe the honest response is modification um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or so there is a lot to keep an eye on and this technique does position a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I just recently made a change 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 actually gotten another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
Sure Payroll Vs Papaya Global