Find out more about Papaya Global Directors Ni ... 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 particularly dedicated to handling payments. This supplies us with a safe and reputable method of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Worker Website offers employees with the capability to access and view important files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to global staff members despite the number of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, create local 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' files and migration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per location, overall work costs per cycle and far more.
environments across the globe I offered management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and options in addition to functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your important 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 actually concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various roles on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well one of 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 simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 really very gloomy and I want I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also discuss a recap which ought to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more typical and managing them becomes increasingly more complicated Global organizations are aiming to discover Solutions and new methods to enhance procedures specifically from a payroll and cross-border payment standpoint numerous organizations maintain different bank account just for payroll while some have numerous accounts in various nations does it make good sense for business to preserve separate bank accounts sometimes in different countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most notably policies compliance data security and banking guidelines then there are the sheer numbers they add further complexity the global Labor force is currently 3 and a half billion people by 2030 it's estimated 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 factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll model there's frequently a frustrating number of various systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely really basic there's no genuine consistency framework we're living in an age 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 frequently with pen and paper which simply blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on worldwide payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be included ideal and what does
it require to be considered there's differing 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to type of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work closer together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to add to type of the level of complexity there's a growing number of advantages being organ or being used by services throughout the world so once again you're simply aiming to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real difficulties or real difficult type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense viewpoint from an impact perspective on staff members it is definitely vital that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive impact on people's well-being and numerous other elements if individuals aren't paid uh I have actually always been impressed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just see when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. Therefore, it is important to guarantee that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment service is a terrific initial action towards providing an extensive payroll solution for employees worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and savings account needed for worldwide payroll are crucial consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as planned. Ultimately, we do not do it for the thankfulness.
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 everyone that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so moving on look why do companies select to main separate bank accounts there are companies out there doing precisely this for specific nations and I have actually worked in a company or numerous businesses doing precisely that I can state it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for anyone where we don't need to and anybody 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 think many reasons 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 appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering however ultimately people are extremely stuck to what they recognize
with right um modification is a tough thing we all don't like change um so I think it's simply kind 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 undoubtedly the benefits of having maintaining multiple bank accounts however there's a huge quantity of intricacy opts for setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is substantial however I think the honest answer is change um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to keep track of and this approach does position numerous obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide 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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