Find out more about Papaya Global For Small Business ... 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 actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Employee Portal offers workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to worldwide employees no matter the number of employees in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every nation, develop regional accounts and have a minimum number of staff members.
The HR abilities offered by Global HR encompass various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the process of inviting new employees and bidding goodbye to departing ones, using a secure online platform for saving employees' documents, and offering assistance for work permit procedures in case your workers require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall employment costs dispersed per area, overall employment expenses per cycle and far more.
Globally, I have demonstrated leadership and strategic knowledge in directing massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for most influential business in the world we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great night depending on where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various functions on the provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone comes 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 very really uninspiring and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business keep different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they add additional intricacy the global Labor force is presently three and a half billion people 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 consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll model there's often an overwhelming number of various systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely very fundamental there's no real consistency structure we're residing 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 typically with pen and paper and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide businesses have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the needed several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's a great question I always toss this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to sort of move on with that it also also to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and financing teams work better together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more essential to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being provided by services across the world so once again you're just wanting to add increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine difficulties or real difficult kind of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of decades I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single biggest liability that any company has from an expense perspective from an impact viewpoint on workers it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging result on people's well-being and numerous other factors if people aren't paid uh I've constantly been astonished entering into this Market sort of the last five to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only see when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the first International Payments very first payroll payment option is a terrific initial action towards supplying a detailed payroll service for workers worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and bank accounts required for international payroll are essential factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand how how crucial a function 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 everybody that's involved in those processes and also so imagine sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and kind of shot to return to everybody so proceeding appearance why do companies pick 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 companies doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for any person where we don't need to and anybody that's handling that process 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 factors one is it's the requirement I believe people have actually got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply 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 actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I believe this is a process that requires looking at it needs altering but ultimately individuals are really stuck to what they recognize
with best um change is a difficult thing we all do not like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving several bank accounts but there's a substantial amount of intricacy goes with setting up a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is huge but I think the sincere answer is modification um people have not been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to track and this method does present a number of challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range 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 jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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