Find out more about Papaya Global Download V29 ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 employees worldwide.}
The innovative global payroll management app streamlines my payroll process, saving me a considerable amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to worldwide staff members regardless of the number of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop local accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs distributed per location, total employment expenses per cycle and a lot more.
Internationally, I have actually shown management and tactical knowledge in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate 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 location. It's a pleasure to fulfill 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 industry, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the provider side and likewise on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 very really uninspiring and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and handling them becomes a growing number of complicated International companies are seeking to find Solutions and new methods to improve procedures especially from a payroll and cross-border payment viewpoint lots of companies keep separate bank account just for payroll while some have multiple accounts in different countries does it make sense for business to maintain separate checking account often in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business streamline the episode complex procedures of
making payroll payments properly effectively securely 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 companies properly anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one country however when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most notably guidelines compliance data security and banking rules then there are the large numbers they add more intricacy the global Labor force 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 worldwide in the conventional payroll model there's often a frustrating number of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very extremely fundamental there's no real consistency framework we're living 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 often with pen and paper and that just 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 only 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have actually 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 due to time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations along with lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what does not require to be included ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 intricacy anywhere you look right eventually constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to sort of progress with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance groups work more detailed together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to type of the level of complexity there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're just aiming to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine difficulties or real challenging type of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from an expense perspective from an impact viewpoint on workers it is absolutely crucial that it's done correctly and on time so what we imply 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 harmful result on people's wellness and many other aspects if people aren't paid uh I've constantly been astonished coming into this Market type of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout 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 an important cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is important to make sure that jobs like Wi-Fi International and other crucial matters are done properly. Using the first Worldwide Payments very first payroll payment service is a great preliminary action towards providing a detailed payroll service for employees worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts required for international payroll are key factors in attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we understand how how essential a role it is which'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 processes and also so imagine sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of shot to return to everyone so carrying on appearance why do business choose to primary different checking account there are companies out there doing precisely this for particular nations and I've operated in an organization or many organizations doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing extra work for any person where we do not have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I believe individuals have actually got so utilized to we need a new savings 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 standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that needs taking a look at it needs changing but eventually individuals are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us don't like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping numerous checking account however there's a substantial amount of complexity chooses establishing a checking account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is big but I think the sincere answer is change um people haven't been able to change or have not had necessarily the understanding to truly 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 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 benefits and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century approximately there is a lot to track and this approach does position several obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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