Find out more about Papaya Global Hk Limited ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and trusted technique of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to international staff members no matter the variety of workers in the company. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages companies in every country, create regional accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses distributed per location, total work expenses per cycle and a lot more.
Globally, I have shown leadership and tactical expertise in directing massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My function involves handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to staff members 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, despite your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays 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 everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really gloomy and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise go over a wrap-up which needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of typical and handling them becomes a growing number of complicated Worldwide organizations are looking to discover Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment perspective many companies preserve different savings account just for payroll while some have several accounts in different nations does it make sense for companies to preserve different checking account in some cases in different countries it does however just for payroll is there a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business enhance the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most importantly policies compliance information security and banking guidelines then there are the sheer numbers they include further complexity the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll model there's frequently a frustrating variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely really basic there's no real consistency structure we're living in an age 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 every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide services have expressed 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 because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the required numerous 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 challenges organization face when they're paying to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require 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 nation 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 best ultimately constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to type of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split 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 procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of intricacy there's more and more advantages being organ or being used by businesses across the world so once again you're simply aiming to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine difficulties or real tough type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger a service 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 details into the next function as it were that's actually handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any business has from a cost point of view from an effect viewpoint on workers it is absolutely 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 biggest destructive result on individuals's well-being and many other elements if individuals aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other essential matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment service is an excellent initial step towards supplying a comprehensive payroll service for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts required for international payroll are key consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyway we understand how how crucial a role 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 involved in those processes and also so imagine sorry I'm just I was just gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everyone so carrying on appearance why do companies pick to main separate savings account there are businesses out there doing precisely this for particular countries and I have actually operated in a company or numerous companies doing precisely that I can say it does not always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anybody that's managing 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 believe lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and rightly 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 actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it requires changing but ultimately people are extremely stuck to what they recognize
with best um change is a challenging thing all of us do not like change um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving multiple checking account but there's a huge quantity of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is substantial however I believe the sincere response is change um people have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century approximately there is a lot to monitor and this approach does present a number of challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range 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 are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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