Find out more about Free Papaya Global Training Online ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to worldwide employees despite the number of employees in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits companies in every country, produce regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, total employment expenses per cycle and a lot more.
Globally, I have demonstrated leadership and strategic expertise in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all worker types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great night depending on where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've sort of had a range of different functions on the supplier side and also 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 alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting 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 everyone comes from and I truly do hope it's much sunnier than it is 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 very really gloomy and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most notably guidelines compliance data security and banking rules then there are the large numbers they include further intricacy the worldwide Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's frequently an overwhelming number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or very really basic there's no genuine consistency structure we're residing in an era of tech but payroll has 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 simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in global payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of international services have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors inadequately communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be consisted of ideal and what does
it need to be considered there's varying Bank information 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 have 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 eventually constructing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 technology is permitting us to type of progress with that it likewise also to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance groups work better together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 process it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to add to kind of the level of complexity there's a growing number of benefits being organ or being offered by companies across the world so once again you're simply seeking to include increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine obstacles or real difficult sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to create extra handoffs while doing sos 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 an age that you know that we are operating in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any organization has from an expense viewpoint from an impact point of view on workers it is definitely vital that it's done correctly and on time so what we imply 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 harmful impact on people's well-being and numerous other elements if individuals aren't paid uh I've constantly been astonished coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only see when things fail. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is necessary to guarantee that jobs like Wi-Fi Global and other vital matters are done properly. Utilizing the first Global Payments first payroll payment solution is an excellent initial step towards supplying a comprehensive payroll option for staff members worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and bank accounts essential for international payroll are crucial consider achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand 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 easy as possible for everyone that's associated with those procedures and likewise so picture sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everyone so proceeding appearance why do companies pick to main separate checking account there are businesses out there doing precisely this for specific countries and I have actually operated in a service or numerous services doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing additional work for any person where we don't need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that people have actually looked 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 think this is a process that needs looking at it needs altering but ultimately people are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us do not like modification um so I believe it's simply type of moving far 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 maintaining several savings account but there's a big amount of complexity opts for establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big but I think the truthful answer is modification um individuals 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 hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to track and this method does posture several obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I 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 improved capability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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