Find out more about Papaya Global Expensify ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a protected and trusted technique of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to international employees regardless of the number of workers in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, produce regional accounts and have a minimum number of staff members.
The HR capabilities supplied by Global HR encompass different functions such as monitoring vacation time, making sure compliance, helping with the process of welcoming new staff members and bidding goodbye to leaving ones, offering a protected online platform for keeping workers' documents, and providing support for work permit procedures in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work costs dispersed per location, overall work expenses per cycle and much more.
Globally, I have demonstrated leadership and tactical knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for supervising payroll techniques, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to fulfill 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 decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've kind of had a variety of various functions on the provider side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite 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 comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll likewise discuss a wrap-up which should leave his time at the very really 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 labor forces end up being increasingly more common and handling them ends up being more and more intricate International companies are seeking to discover Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment perspective lots of companies maintain separate savings account just for payroll while some have multiple accounts in different countries does it make sense for business to maintain separate bank accounts sometimes in various countries it does however just for payroll exists a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business improve the episode complex processes of
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add more intricacy the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there's typically a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or extremely really fundamental there's no real consistency framework we're residing 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 frequently with pen and paper which just blows my mind each 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 organizations say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide services have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the data is delivered to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when 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 numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not need to be included best and what does
it need to be thought of there's varying Bank details 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 wherever you look ideal eventually building a knowledge base is absolutely critical but all over you look with payroll payment they resemble very payments no if however some children 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 acknowledgment that payroll payments are absolutely basic and technology is enabling us to type of move forward with that it also as well to add to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm always astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Organizations are constantly introducing brand-new benefits and payment options, which contributes to the general intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically sophisticated period, there's no reason for preserving cumbersome treatments. Payroll, the business's most significant expense, need to be processed correctly and on time. Even slight hold-ups can negatively affect staff members' wellness and have significant consequences. Therefore, it's crucial to focus on precise and timely payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic 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. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is essential to ensure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Global Payments very first payroll payment option is a great initial action towards offering an extensive payroll option for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and checking account necessary for worldwide payroll are crucial consider attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how crucial 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 involved in those procedures and also so envision sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I mean 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 try to look through them and actually see what was going on and kind of shot to get back to everyone so carrying on look why do companies choose to main different checking account there are companies out there doing exactly this for particular countries and I've operated in a service or numerous organizations doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with right um change is a challenging thing we all don't like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having keeping numerous checking account however there's a huge amount of intricacy opts for establishing a savings account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is huge however I think the sincere answer is change um individuals haven't had the ability to change or have not had always the knowledge to really 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 knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep an eye on and this technique does present several obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range 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 jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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