Find out more about Papaya Global Cannot Use This Database At This Time ... 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 obtained a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and dependable method of paying to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Staff member Website offers staff members with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to worldwide staff members no matter the variety of workers in the business. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source local advantages companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR abilities provided by Worldwide HR incorporate various functions such as monitoring vacation time, making sure compliance, facilitating the process of welcoming brand-new workers and bidding farewell to leaving ones, using a safe and secure online platform for storing workers' files, and providing assistance for work allow procedures in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work costs distributed per place, overall work costs per cycle and far more.
Globally, I have actually shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, 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 services for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
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 range of different roles on the service provider side and also on the supplier side from a payroll perspective so really anticipating this discussion 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 approximately 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 certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely 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 looking at the challenge years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most notably regulations compliance information security and banking rules then there are the large numbers they include further complexity the global Workforce is presently three and a half billion individuals by 2030 it's estimated 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 services and growing all doing their own thing around the world in the conventional payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or really very fundamental there's no genuine consistency structure we're living in a period of tech but payroll has 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 whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in global payroll the less of a photo they see a lack of presence likewise reaches 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 businesses have 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 due to time reporting poor HCM data data entry errors inadequately interacted hires and terminations along with lack management and system setups and then when you round everything off and the information is delivered to the incorrect place the typical expense of a worldwide information 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 efficiently if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're making payments to workers or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately developing a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to kind of move on with that it likewise too to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely vital that payroll and finance teams work better together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being offered by services throughout the world so once again you're simply aiming to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real difficulties or genuine tough kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an impact point of view on staff members it is absolutely important that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and many other elements if people aren't paid uh I've constantly been surprised entering this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things fail. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally too. Therefore, it is important to make sure that tasks like Wi-Fi International and other essential matters are done correctly. Using the very first Global Payments very first payroll payment service is a great preliminary step towards offering a comprehensive payroll solution for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account necessary for worldwide payroll are crucial factors in achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we understand how how essential 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 everybody that's involved in those processes and also so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job 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 attempt to look through them and in fact see what was going on and kind of try to return to everybody so proceeding appearance why do business select to main different bank accounts there are services out there doing exactly this for particular nations and I've worked in a company or lots of organizations doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we don't have to and anyone that's managing that process 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 think numerous factors one is it's the requirement I believe people have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other methods um to to kind 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 but eventually individuals are really stuck to what they're familiar
with best um change is a challenging thing we all don't like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving multiple bank accounts but there's a substantial quantity of complexity goes with establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is substantial however I think the truthful answer is modification um people have not been able to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this method does position numerous obstacles um so Johnny might you tell us about those difficulties 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 employees you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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