Find out more about How To Terminate An Employee On Papaya Global ... 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 acquired a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and secure and trusted approach of paying to our 10,000 staff members worldwide.}
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The Worker Portal supplies workers with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to international workers no matter the variety of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, develop regional accounts and have a minimum number of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs distributed per location, total employment costs per cycle and far more.
Globally, I have actually shown leadership and tactical competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to satisfy 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 market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days 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 type of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really dreary and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business preserve different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add more complexity the international Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll model there's frequently an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely extremely standard there's no genuine consistency framework we're living in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a photo they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global businesses have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations along with lack management and system setups and after that when you round everything 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 need to move the money around the globe payroll and payments don't run efficiently if they count on the required numerous 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 difficulties business face when they're making payments to workers or otherwise that's a great concern I always toss this back and state what is it what does not need to be consisted of right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's intricacy any place you look right eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some children 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 recognition that payroll payments are definitely fundamental and innovation is allowing us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to sort of the level of intricacy there's more and more advantages being organ or being provided by organizations throughout the world so again you're simply looking to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine difficulties or real challenging kind of pay uses to play to pay individuals 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 groups doing one part of the task there are groups feeding info into the next function as it were that's in fact 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 understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost point of view from an effect perspective on workers it is definitely vital that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on people's well-being and many other aspects if individuals aren't paid uh I've always been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise 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 things is absolutely vital that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll service for your workers worldwide again I believe is another big um process once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and minimizing the number of tools platforms and bank accounts they need for their Worldwide payroll too couldn't 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 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 quite where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyway we know how how crucial 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 everyone that's associated with those processes and also so envision sorry I'm simply I was simply gon na say imagine 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 speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying 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 need days of the week to attempt to browse them and really see what was going on and type of try to return to everybody so carrying on appearance why do companies pick to main separate checking account there are companies out there doing precisely this for specific nations and I have actually operated in a company or many companies doing exactly that I can state it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't need to and any person that's managing that process 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 think numerous reasons one is it's the requirement I think individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs altering but eventually people are extremely stuck with what they recognize
with best um change is a hard thing all of us do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining multiple bank accounts however there's a huge amount of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge but I believe the truthful response is modification um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've 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 nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does present several difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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