Find out more about Papaya Global Data Repair ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and reputable approach of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app streamlines my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Portal provides staff members with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to worldwide workers regardless of the number of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR encompass numerous functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding farewell to leaving ones, offering a secure online platform for storing employees' files, and providing assistance for work allow procedures in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total work expenses dispersed per location, total work costs per cycle and far more.
Globally, I have demonstrated management and strategic know-how in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your important 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 intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really dreary and I wish 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 taking a look at the difficulty years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic property 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 effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance information security and banking guidelines then there are the sheer numbers they add more complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's typically a frustrating number of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or really extremely basic there's no real consistency framework we're residing in an era of tech however 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 which simply blows my mind whenever I I think
about it to offer you a concept 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 gives me sleepless nights and quite honestly the more a business spends on international payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of international businesses have actually revealed 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 because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they depend on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 best eventually constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm always impressed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry 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 individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to kind of the level of complexity there's increasingly more benefits being organ or being offered by services across the world so again you're just seeking to include increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real difficulties or real tough sort of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any service has from an expense point of view from an effect point of view on employees it is definitely important that it's done correctly and on time so what we mean 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 destructive effect on people's wellness and lots of other factors if individuals aren't paid uh I have actually constantly been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. Therefore, it is vital to make sure that jobs like Wi-Fi International and other essential matters are done properly. Using the very first Global Payments first payroll payment option is an excellent initial step towards offering a detailed payroll solution for employees worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account required for global payroll are essential consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we understand 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 easy as possible for everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task attempting to clean 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 check out them and really see what was going on and kind of shot to return to everyone so moving on appearance why do companies pick to primary different savings account there are services out there doing precisely this for specific nations and I have actually worked in an organization or numerous companies doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not creating additional work for any person where we don't need to and anybody that's dealing with that procedure 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 factors one is it's the requirement I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number 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 contribute to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs changing but eventually individuals are really stuck with what they recognize
with best um modification is a challenging thing all of us do not like modification um so I think it's simply kind 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 undoubtedly the advantages of having maintaining several savings account however there's a substantial amount of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is substantial but I believe the sincere response is modification um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century or so there is a lot to monitor and this approach does present numerous difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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