Find out more about Papaya Global Ebanking ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trustworthy technique of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app streamlines my payroll process, conserving me a substantial amount of time every month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Employee Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to global staff members regardless of the number of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every nation, create local accounts and have a minimum variety of staff members.
The HR capabilities supplied by Global HR include various functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of welcoming brand-new employees and bidding goodbye to departing ones, providing a safe online platform for keeping employees' files, and providing assistance for work permit procedures in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per place, total work expenses per cycle and much more.
environments around the world I provided leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Enterprise clients and solutions along with serving as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential 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 pointed out by Mark. Now, I'll let Johnny present 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 pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually 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 extremely really dreary and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also offer a wrap-up 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 stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most significantly guidelines compliance data security and banking rules then there are the large 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 more 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 standard payroll model there's typically a frustrating number of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely extremely standard there's no real consistency structure we're residing in an age 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 whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a service spends on international payroll the less of an image they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international companies have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and say what is it what does not need to be consisted of best 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 country there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is absolutely important however everywhere 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 definitely essential and innovation is allowing us to kind of progress with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always amazed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more important to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so again you're just seeking to include more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real challenging sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from an expense perspective from an effect point of view on employees it is definitely important that it's done properly and on time so what we imply 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 damaging impact on individuals's wellness and lots of other aspects if individuals aren't paid uh I've always been impressed entering into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during 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 individuals only discover when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the very first Worldwide Payments first payroll payment solution is a terrific preliminary step towards providing a thorough payroll service for staff members worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and checking account essential for worldwide payroll are essential factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the thankfulness.
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 simple as possible for everyone that's involved in those processes and likewise so picture sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many 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 imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to return to everyone so proceeding look why do companies pick to primary separate checking account there are organizations out there doing precisely this for particular nations and I've operated in a business or lots of companies doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not creating additional work for anybody where we don't have to and any person 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 amount that we are I think many factors one is it's the standard I think people have got so used to we need a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires altering however eventually people are very stuck with what they're familiar
with right um modification is a hard thing all of us do not like change um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving multiple checking account however there's a big quantity of intricacy opts for setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is big however I believe the truthful answer is modification um individuals have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep track of and this technique does present numerous challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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