Find out more about Papaya Global Stock ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to global workers despite the number of workers in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source regional benefits companies in every nation, produce regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment costs dispersed per location, overall work expenses per cycle and much more.
Internationally, I have actually demonstrated management and strategic competence in directing massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll methods, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for many influential companies on the planet we offer payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending upon where you are in the world it's beautiful to satisfy 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 industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've type of had a variety of different roles on the company side and likewise on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone 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 sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes 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 very extremely uninspiring and I want I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise provide a recap of the bottom lines 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 pros and cons of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most significantly guidelines compliance data security and banking guidelines then there are the large numbers they add more complexity the global Labor force is presently 3 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 organizations and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating variety of various systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or really extremely basic there's no genuine consistency structure we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every 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 information in real time that's another number that offers me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global businesses have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the wrong location the average cost 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 cash worldwide payroll and payments don't run smoothly if they count on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't need to be consisted of 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 capabilities 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work better together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is ending up being progressively elaborate. Companies are continually introducing new benefits and payment options, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically innovative period, there's no reason for maintaining troublesome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even minor delays can negatively affect workers' wellness and have significant repercussions. Therefore, it's vital to focus on precise and prompt payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first International Payments first payroll payment service is a terrific primary step um supplying an end-to-end payroll service for your employees worldwide again I believe is another substantial um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never 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 grievances where things have not gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how important 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 easy as possible for everybody that's associated with those procedures and also so picture sorry I'm simply 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 discussing hundreds of thousands possibly Millions imagine 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 however it would absolutely be an interesting task attempting to clean up 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 need days of the week to try to check out them and really see what was going on and sort of try to return to everybody so proceeding look why do companies choose to main separate savings account there are services out there doing exactly this for specific countries and I've worked in an organization or many services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for any person where we don't need to and anybody that's managing that procedure 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 numerous factors one is it's the standard I think individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing however eventually people are very stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving several bank accounts however there's a substantial quantity of intricacy opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is substantial but I think the truthful answer is modification um people have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be identified to be the next Century or two there is a lot to monitor and this approach does pose several difficulties um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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