Find out more about Papaya Global Download Update ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and dependable approach of paying to our 10,000 workers worldwide.}
The innovative global payroll management app enhances my payroll procedure, saving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies staff members with the capability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to worldwide employees no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits companies in every country, develop regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work costs dispersed per area, total employment expenses per cycle and far more.
Internationally, I have shown management and tactical knowledge in guiding massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually kind of had a range of different roles on the company side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually 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 very dreary and I want I was elsewhere 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 handling Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of factors most importantly policies compliance information security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 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 conventional payroll design there's frequently an overwhelming number of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely really basic there's no real consistency structure we're living in an age of tech but 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 and that just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary numerous 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 a good question I constantly throw this back and state what is it what does not need to be consisted of 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 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 need to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble extremely 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to sort of move on with that it likewise as well to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always astonished when people state I have actually divided 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 divide the payroll payment from calculation 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the compensation landscape is ending up being increasingly complex. Companies are continuously presenting brand-new benefits and payment alternatives, which adds to the total intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically sophisticated age, there's no reason for keeping troublesome procedures. Payroll, the business's biggest expense, need to be processed correctly and on time. Even small delays can negatively affect staff members' well-being and have significant consequences. For that reason, it's vital to focus on precise and prompt payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has 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 staff members or not um but eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first Global Payments very first payroll payment option is an excellent primary step um offering an end-to-end payroll option for your workers worldwide once again I think is another big um procedure again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of services and reducing the variety of tools platforms and checking account 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyway we know 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 simple as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean all those up for sure oh definitely 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 check out them and in fact see what was going on and kind of try to return to everyone so carrying on appearance why do companies pick to main separate savings account there are companies out there doing precisely this for particular nations and I've worked in a service or lots of services doing precisely that I can state it does not always 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 have to and anybody that's handling that procedure 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 lots of reasons one is it's the standard I believe individuals have actually got so utilized to we need 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 standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it requires altering however eventually individuals are very stuck with what they recognize
with ideal um modification is a tough thing all of us don't like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having maintaining numerous bank accounts but there's a big amount of intricacy opts for establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is huge but I think the honest answer is change um people haven't been able to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element 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 carrying on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to monitor and this approach does position numerous obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I just 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 deserve a corner workplace 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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