Find out more about Papaya Global Earlier Year Update ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and trusted approach of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Worker Website provides workers with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to worldwide employees regardless of the number of employees in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every nation, develop regional accounts and have a minimum number of employees.
The HR capabilities offered by Global HR incorporate various functions such as keeping an eye on vacation time, ensuring compliance, facilitating the process of inviting new staff members and bidding goodbye to departing ones, offering a secure online platform for storing employees' files, and providing support for work allow treatments in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs distributed per place, overall employment costs per cycle and far more.
Worldwide, I have demonstrated management and strategic knowledge in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global 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 staff members in more than 160 nations. 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 area. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've kind of had a range of various roles on the provider side and also on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all 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 currently just 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 is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they add further complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 all over the world in the conventional payroll design there's often a frustrating number of different systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really fundamental there's no genuine consistency structure we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes improperly communicated hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 complexity any place you look ideal ultimately building a knowledge base is definitely important however all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to kind of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance groups work better together than ever um I'm always surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is becoming significantly intricate. Organizations are continuously introducing brand-new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's technically sophisticated era, there's no validation for maintaining cumbersome treatments. Payroll, the company's biggest expense, need to be processed properly and on time. Even minor delays can adversely affect staff members' well-being and have far-reaching effects. For that reason, it's important to prioritize accurate and timely payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. Therefore, it is important to ensure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Using the very first International Payments first payroll payment solution is an excellent preliminary action towards offering a thorough payroll solution for workers worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and bank accounts necessary for international payroll are key consider accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
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 associated with those processes and likewise so imagine sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting to clean 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 attempt to browse them and in fact see what was going on and sort of shot to get back to everyone so carrying on look why do companies choose to primary separate savings account there are organizations out there doing exactly this for particular countries and I have actually operated in a service or numerous companies doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not producing extra work for anybody where we do not need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I think individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it needs changing but eventually people are really stuck with what they're familiar
with ideal um change is a tough thing all of us do not like change um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving several checking account however there's a substantial quantity of complexity goes with setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is substantial but I think the sincere response is change um individuals have not had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think 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 constantly done it that way is no real excuse for not looking 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 monitor and this method does present a number of obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I simply 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 Global staff members you should have a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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