Find out more about Papaya Global Backup ... 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 actually acquired a different Chief Financial Officer particularly committed to handling payments. This provides us with a secure and reliable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Portal offers employees with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business use competitive benefits plans to international workers despite the number of workers in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, produce regional accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR incorporate numerous functions such as monitoring trip time, guaranteeing compliance, helping with the process of inviting new workers and bidding goodbye to departing ones, using a safe online platform for saving workers' files, and supplying assistance for work permit procedures in case your staff members require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall employment expenses distributed per place, total work costs per cycle and a lot more.
Worldwide, I have shown management and strategic proficiency in assisting massive populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for managing payroll techniques, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force 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 introduce himself. Good day to all, despite 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 company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually kind of had a variety of various roles on the company side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely bleak and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most notably regulations compliance information security and banking rules then there are the large numbers they include further intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 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 globe in the traditional payroll design there's typically a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or very very fundamental 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 simply blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service spends on global payroll the less of an image they see a lack of presence also extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide companies have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical expense of an international 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 don't run smoothly if they depend on the necessary several processes 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 difficulties business face when they're paying to employees or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included right and what does
it require to be considered 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 need to pay from the client's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 essential and innovation is permitting us to type of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 ultimately it's payroll is an end-to-end procedure it's the point of information 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 modern world puts a high worth on well-being and the payment landscape is becoming significantly intricate. Businesses are continuously introducing brand-new benefits and payment alternatives, which adds to the total intricacy. Large corporations typically divide their payroll and payment processing into different groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to be the case. In today's technically innovative era, there's no reason for preserving cumbersome treatments. Payroll, the company's biggest expense, need to be processed correctly and on time. Even small hold-ups can adversely affect staff members' well-being and have significant consequences. Therefore, it's vital to focus on accurate and timely payments.
payroll team get um so I'm unsure anybody on this sort of webinar has actually been informed 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 employees or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box exercise 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 absolutely essential that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic primary step um supplying an end-to-end payroll solution for your employees globally again I believe is another huge um process again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of services and reducing the number of tools platforms and bank accounts they need for their Worldwide 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 had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyhow 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 easy as possible for everybody that's associated with those processes and also so envision sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and sort of shot to return to everyone so proceeding look why do companies pick to primary separate checking account there are organizations out there doing precisely this for particular nations and I've worked in an organization or many businesses doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not developing extra work for any person where we don't have 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 quantity that we are I think many factors one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing however ultimately people are very stuck with what they recognize
with ideal um modification is a hard thing we all do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving numerous bank accounts however there's a substantial amount of intricacy opts for establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is huge however I believe the honest response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep track of and this method does present numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle 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 actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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