Find out more about Papaya Global Bangalore ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and reputable method of paying to our 10,000 employees worldwide.}
The innovative international payroll management app streamlines my payroll process, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Staff member Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to worldwide staff members despite the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, develop local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses dispersed per area, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated leadership and strategic knowledge in guiding large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for managing payroll strategies, as pointed out by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a range of different functions on the supplier side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating 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 originates from and I actually 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 very uninspiring and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya International payroll payments as a strategic asset uh we'll likewise discuss a wrap-up and that should leave his time at the extremely extremely 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 International labor forces end up being a growing number of common and managing them ends up being more and more intricate Worldwide companies are wanting to discover Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment viewpoint numerous organizations keep different savings account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain different checking account often in different nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international business improve the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset 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 complicated for a range of reasons most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add further complexity the international Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people 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 around the globe in the standard payroll design there's frequently a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely very standard there's no real consistency structure we're living in an age of tech however 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 and that just blows my mind every 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 Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of international services have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors badly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the incorrect location the typical expense of a worldwide 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 don't run efficiently if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what does not 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 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 customer's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 definitely fundamental and technology is permitting us to kind of progress with that it also as well to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely crucial that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the payment landscape is ending up being progressively complex. Businesses are continually presenting brand-new benefits and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly advanced period, there's no justification for maintaining troublesome procedures. Payroll, the business's biggest expenditure, should be processed correctly and on time. Even slight delays can adversely impact staff members' wellness and have far-reaching consequences. For that reason, it's vital to focus on accurate and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only discover when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment service is a terrific preliminary step towards providing a thorough payroll solution for staff members worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and bank accounts needed for global payroll are key factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow we know how how essential a role 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 likewise so imagine sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that lots of 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 attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and kind of try to get back to everybody so moving on look why do business pick to primary different savings account there are companies out there doing exactly this for specific nations and I've worked in a service or lots of services doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for any person where we don't need to and anyone that's managing that procedure 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 standard I believe individuals have got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I think this is a procedure that needs looking at it requires changing but eventually individuals are really stuck with what they recognize
with best um change is a tough thing all of us don't like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving multiple savings account however there's a substantial quantity of complexity chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is huge but I think the sincere answer is change um individuals haven't been able to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century or so there is a lot to monitor and this approach does position a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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