Find out more about Papaya Global Austin Office ... 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 acquired a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and reputable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Employee Portal offers employees with the ability to gain access to and view essential files 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 various languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to worldwide workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every nation, produce local accounts and have a minimum variety of employees.
The HR abilities provided by International HR incorporate various functions such as keeping an eye on getaway time, ensuring compliance, helping with the procedure of inviting brand-new staff members and bidding farewell to leaving ones, providing a protected online platform for keeping employees' files, and providing assistance for work allow procedures in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall work expenses dispersed per place, overall employment costs per cycle and a lot more.
Globally, I have shown management and tactical proficiency in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as mentioned 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 options company.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give 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 kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really bleak and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic property uh we'll also discuss a recap which must leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and managing them becomes more and more intricate International organizations are aiming to discover Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have multiple accounts in different nations does it make sense for business to preserve separate bank accounts sometimes in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most notably regulations compliance data security and banking rules then there are the sheer numbers they add further intricacy the global Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll model there's often an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or very very standard there's no genuine consistency framework we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company invests in global payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide organizations have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors inadequately interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're paying to workers or otherwise that's a great concern I constantly toss this back and say what is it what does not require to be consisted of right 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 country 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 client's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to kind of move on with that it also also to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work better together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure 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 reside in and well-being being more and more essential to add to sort of the level of complexity there's increasingly more benefits being organ or being provided by organizations across the world so again you're just looking to add more and 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'm sure but have you got any experience in kind of real challenges or genuine tough type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would absolutely say that the larger a company 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 teams feeding details into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on workers it is absolutely crucial 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 biggest detrimental effect on people's wellness and many other elements if people aren't paid uh I have actually constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has actually 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 staff members or not um however ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external consider 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 stuff is done properly so leveraging the very first International Payments very first payroll payment option is a fantastic first step um supplying an end-to-end payroll solution for your employees internationally once again I think is another big um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of businesses and reducing the variety of tools platforms and checking account they require for their Global 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential a function 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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up 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 require days of the week to attempt to look through them and really see what was going on and type of try to return to everyone so carrying on appearance why do companies select to primary different checking account there are businesses out there doing exactly this for particular countries and I've worked in a company or many businesses doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not need to and any person that's handling 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 many reasons one is it's the standard I think individuals have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs altering however ultimately individuals are very stuck with what they're familiar
with best um change is a challenging thing we all do not like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining several checking account but there's a substantial amount of complexity opts for setting up a savings account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big however I think the truthful answer is change um individuals have not had the ability to change or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep track of and this approach does present numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally 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 manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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