Find out more about Papaya Global Russia ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Staff member Website supplies employees with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to worldwide staff members despite the number of employees in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages providers in every country, develop regional accounts and have a minimum number of workers.
The HR capabilities provided by Worldwide HR include different functions such as keeping track of holiday time, making sure compliance, assisting in the process of inviting new staff members and bidding farewell to leaving ones, offering a secure online platform for keeping employees' documents, and providing support for work allow treatments in case your workers need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work costs distributed per place, overall work costs per cycle and far more.
Globally, I have actually demonstrated leadership and tactical knowledge in guiding massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for managing payroll methods, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Enterprise clients, and providing 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 consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing 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 everybody originates from and I truly 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 very extremely bleak and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies keep different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include additional complexity the international Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's often an overwhelming number of various systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or very extremely standard there's no genuine consistency framework we're living in an era of tech but payroll has actually been slow 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 each time I I think
about it to give you an idea 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 gives me sleepless nights and rather honestly the more a business spends on global payroll the less of a photo they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of global companies have actually expressed that they don't 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 information entry errors improperly communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is delivered to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be consisted of best and what does
it need to be thought about there's differing Bank details 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 best eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble very payments no if however 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 think there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to type of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the settlement landscape is ending up being significantly complex. Businesses are continually introducing brand-new advantages and payment alternatives, which contributes to the overall complexity. Large corporations frequently 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 technically innovative era, there's no validation for maintaining troublesome procedures. Payroll, the company's biggest expense, must be processed properly and on time. Even small delays can adversely affect workers' wellness and have far-reaching consequences. For that reason, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all become aware of 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 believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the first International Payments very first payroll payment solution is a great first step um offering an end-to-end payroll solution for your employees worldwide once again I think is another huge um process again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know 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 everybody that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I suggest 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 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 attempt to browse them and really see what was going on and kind of shot to get back to everybody so proceeding appearance why do business pick to primary separate checking account there are organizations out there doing precisely this for particular countries and I've operated in a business or numerous companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for anybody where we do not have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted 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 type of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs altering but ultimately people are really stuck with what they're familiar
with ideal um change is a hard thing all of us don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having keeping numerous checking account but there's a big amount of complexity chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the intricacy is big however I think the sincere answer is modification um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or so there is a lot to track and this approach does position a number of challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched 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 Global staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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