Find out more about Papaya Global Payroll Countries ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single dashboard 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 declarations and work files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to international employees no matter the variety of employees in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local benefits providers in every country, create local accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total employment costs distributed per place, total work expenses per cycle and a lot more.
Globally, I have demonstrated management and tactical competence in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the service provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing 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 comes from and I actually 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 drizzling here it's really extremely gloomy and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a wrap-up which should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more typical and managing them becomes more and more complex International organizations are seeking to find Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment perspective numerous organizations maintain different savings account just for payroll while some have several accounts in different countries does it make sense for companies to maintain different savings account in some cases in different countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies improve the episode complex procedures of
Guaranteeing precise, efficient, and timely payroll payments is a complex obstacle for services operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and find how enhancing worldwide payroll payments can change them from a troublesome job into a strategic asset.
Handling payroll internationally is a challenging job due to different regulations, compliance requirements, data security issues, and banking rules. The sheer variety of workers and businesses contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual processes, information silos, and a lack of integration, resulting in inconsistencies and inadequacies. Despite living in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and options to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide companies have actually 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 poor HCM data information entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they count on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 wherever you look best ultimately developing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and innovation is permitting 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 differing Savings account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the settlement landscape is ending up being significantly elaborate. Businesses are continuously introducing brand-new advantages and payment options, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into different teams, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's highly sophisticated age, there's no reason for maintaining troublesome procedures. Payroll, the business's greatest expenditure, should be processed properly and on time. Even small delays can negatively impact employees' well-being and have far-reaching consequences. For that reason, it's critical to focus on precise and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally as well. Therefore, it is vital to guarantee that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the first International Payments very first payroll payment option is a fantastic initial action towards providing an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and bank accounts necessary for worldwide payroll are crucial consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how essential a function 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 everybody that's associated with those processes and also so envision sorry I'm simply I was simply 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 make sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everybody so proceeding look why do business select to main different bank accounts there are services out there doing exactly this for particular countries and I've operated in a business or lots of companies doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for any person where we do not have to and anyone that's dealing with that procedure 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 numerous reasons one is it's the requirement I believe people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I think this is a process that requires looking at it needs altering however ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a difficult thing we all do not like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving numerous checking account but there's a substantial quantity of complexity goes with setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is substantial but I think the truthful answer is modification um people have not had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does posture a number of obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I just did you changed our Enterprise 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 Worldwide workers you deserve a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global