Find out more about Papaya Global Apprenticeship Levy ... We now have the ability to manage 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 handling payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Website supplies workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to international workers no matter the variety of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR encompass various functions such as monitoring trip time, ensuring compliance, facilitating the process of welcoming new workers and bidding goodbye to leaving ones, providing a secure online platform for storing employees' documents, and providing assistance for work permit treatments in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment expenses dispersed per place, overall employment expenses per cycle and much more.
Internationally, I have shown management and strategic proficiency in assisting massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll strategies, as pointed out by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for the majority of influential companies in the world we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending upon where you are in the world it's beautiful to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've kind of had a range of different roles on the company side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I want I was somewhere else at this moment in time fine 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 companies keep different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they include additional intricacy the global Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 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 world in the traditional payroll model there's typically a frustrating number of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really really standard there's no genuine consistency structure we're residing in a period 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 typically with pen and paper which simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of global organizations 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 mistakes are because of time reporting bad HCM information data entry errors inadequately 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 shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to employees or otherwise that's a great question I constantly toss this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought of there's varying Bank details 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy wherever you look ideal eventually developing a knowledge base is absolutely important however all over you look with payroll payment they are like 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 recognition that payroll payments are definitely essential and technology is allowing us to type of move forward with that it also too to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming progressively intricate. Organizations are continually presenting new benefits and payment options, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's highly advanced period, there's no justification for maintaining troublesome treatments. Payroll, the business's greatest expense, need to be processed correctly and on time. Even slight delays can negatively affect employees' wellness and have significant repercussions. For that reason, it's critical to prioritize precise and timely payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential 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 just 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 definitely essential that all of this things is done correctly so leveraging the first International Payments first payroll payment service is a terrific first step um providing an end-to-end payroll solution for your workers internationally once again I believe is another huge um process again aligning and guaranteeing you have standardization International processes all of those things are absolutely crucial to success success of services and reducing the variety of tools platforms and savings account they need for their Global 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 expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everybody that's involved in those processes and likewise so think of sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everyone so carrying on appearance why do companies choose to primary separate savings account there are businesses out there doing exactly this for particular countries and I have actually operated in a service or numerous services doing precisely that I can say it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think people have got so utilized to we require a brand-new savings 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 gone past to add to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing but ultimately individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping numerous savings account but there's a huge quantity of complexity chooses establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is big but I believe the truthful answer is modification um people have not been able to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from 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 element of resistance to alter but we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep an eye on and this method does position several difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a variety 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 tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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