Find out more about Papaya Global Jordan ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to worldwide staff members despite the variety of employees in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every country, produce local accounts and have a minimum number of staff members.
The HR capabilities supplied by Global HR encompass numerous functions such as keeping track of trip time, making sure compliance, assisting in the procedure of inviting brand-new staff members and bidding farewell to departing ones, providing a safe online platform for saving workers' files, and providing support for work permit treatments in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work costs dispersed per place, total work expenses per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Enterprise customers and options in addition to functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to workers 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, regardless of your place. It's a pleasure 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 decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various roles on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I wish I was elsewhere 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 difficulty years of handling Worldwide payroll why business keep different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially useful for global companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most significantly policies compliance information security and banking rules then there are the sheer numbers they include further complexity the worldwide Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating variety of various systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or very really standard there's no real consistency framework we're residing in an age of tech however payroll has actually been slow 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 every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of presence also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide companies have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the required multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a good question I always toss this back and state what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank details 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 absolutely fundamental and innovation is allowing us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely important that payroll and financing teams work better together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split 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 information collection all the way through to paying individuals anywhere they are however likewise 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 used by organizations across the world so again you're just looking to include increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real challenges or real tough sort of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of years I would definitely say that the bigger an organization 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 information into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an effect viewpoint on employees it is absolutely critical that it's done properly and on time so what we indicate 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 damaging impact on individuals's well-being and numerous other factors if individuals aren't paid uh I've always been astonished entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly 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 workers or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi Global and other important matters are done properly. Using the very first International Payments very first payroll payment solution is a terrific preliminary step towards supplying a comprehensive payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account essential for international payroll are essential consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we understand how how important 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 easy as possible for everybody that's involved in those procedures and likewise so picture sorry I'm simply I was simply 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 certain we're talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting 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 look through them and really see what was going on and sort of try to get back to everybody so proceeding appearance why do companies choose to main different checking account there are businesses out there doing precisely this for particular countries and I've operated in a company or lots of services doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe individuals have actually got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it requires changing but ultimately individuals are very stuck to what they recognize
with best um change is a difficult thing all of us do not like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having preserving multiple checking account but there's a big amount of intricacy opts for establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is huge however I think the honest answer is modification um people haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep track of and this approach does pose numerous challenges um so Johnny could you tell us about those obstacles yeah obviously 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you should have a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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