Find out more about Papaya Global Lebanon ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trusted technique of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, conserving me a substantial amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Employee Portal provides workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business offer competitive benefits packages to global workers despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, produce local accounts and have a minimum number of employees.
The HR abilities supplied by Worldwide HR include numerous functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the procedure of welcoming brand-new workers and bidding goodbye to departing ones, providing a safe and secure online platform for keeping employees' files, and providing support for work permit treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment expenses dispersed per location, total work costs per cycle and much more.
Globally, I have demonstrated leadership and strategic know-how in assisting large-scale populations of over 100,000 staff members across 170 countries. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to satisfy 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 industry, I have focused on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the company side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly 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 drizzling here it's really very bleak and I wish I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up which needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them ends up being more and more intricate International organizations are aiming to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment standpoint numerous organizations maintain different checking account just for payroll while some have numerous accounts in different nations does it make sense for business to preserve different savings account sometimes in various countries it does but just for payroll is there a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the large numbers they include further complexity the international Workforce is presently three and a half billion individuals by 2030 it's approximated 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's typically an overwhelming number of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or extremely very standard there's no genuine consistency structure we're residing 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 and that simply 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 just 11 of businesses 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 worldwide payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of global businesses have actually revealed that they don't 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 information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the needed numerous 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 difficulties company face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be included best and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and technology is enabling us to type of progress with that it likewise as well to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work better together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anybody 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 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of intricacy there's more and more advantages being organ or being used by companies across the world so again you're just seeking to include a growing number of payments to this currently intricate landscape so if you type 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 genuine difficulties or genuine tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from a cost viewpoint from an effect perspective on staff members it is definitely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful result on people's wellness and lots of other aspects if individuals aren't paid uh I have actually always been amazed entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us hear about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first Global Payments very first payroll payment service is an excellent first step um supplying an end-to-end payroll solution for your staff members worldwide again I believe is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was simply 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'm sure we're speaking about numerous thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and kind of try to return to everyone so moving on look why do business choose to primary different savings account there are services out there doing exactly this for specific countries and I've operated in a business or lots of services doing precisely that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anyone where we don't need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I believe people have actually got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll functions but 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 passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a process that needs taking a look at it requires altering however eventually people are extremely stuck to what they recognize
with best um change is a hard thing all of us don't like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining several savings account however there's a big quantity of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is substantial however I think the honest answer is modification um individuals haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or two there is a lot to keep an eye on and this approach does posture a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a modification to our Business 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 acquired another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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