Find out more about Papaya Global Limited ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll procedure, saving me a significant amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Worker Website supplies staff members with the capability to access and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to worldwide workers despite the variety of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, produce local accounts and have a minimum variety of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs distributed per location, total employment expenses per cycle and a lot more.
Globally, I have shown management and tactical competence in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for supervising payroll strategies, as discussed by Mark. My role includes managing and establishing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for most influential companies on the planet we provide payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great evening depending on where you remain in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of different roles on the supplier side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind 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 raining here it's extremely really uninspiring and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance data security and banking rules then there are the large numbers they add more intricacy the worldwide Workforce 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 individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's often an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or extremely really standard there's no genuine consistency framework we're residing in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company invests in international payroll the less of an image they see a lack of visibility also extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international services have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the necessary several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's intricacy wherever you look ideal eventually developing a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble extremely payments no if however some infants 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 fundamental and innovation is enabling 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 differing Bank Account Details differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm always surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses throughout the world so again you're simply seeking to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real challenges or genuine challenging sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of decades I would definitely say that the bigger a company 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 really managing the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single greatest liability that any company has from a cost perspective from an impact viewpoint on workers it is absolutely critical that it's done correctly 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 biggest destructive effect on people's well-being and numerous other elements if individuals aren't paid uh I've always been impressed entering this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only observe when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. Therefore, it is essential to make sure that jobs like Wi-Fi International and other essential matters are done correctly. Using the very first International Payments first payroll payment solution is a fantastic initial step towards supplying an extensive payroll solution for workers worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and checking account essential for international payroll are key consider accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand how how crucial a function 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 involved in those procedures and also so imagine sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh definitely 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 browse them and really see what was going on and kind of try to return to everyone so moving on look why do business pick to primary separate savings account there are organizations out there doing exactly this for specific nations and I have actually operated in a business or numerous organizations doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and anybody that's handling 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 amount that we are I think many factors one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to type 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 however ultimately individuals are very stuck with what they're familiar
with ideal um change is a tough thing we all don't like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping multiple savings account however there's a substantial amount of intricacy chooses setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the complexity is huge but I think the honest answer is modification um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this approach does pose numerous difficulties um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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