Find out more about Papaya Global Free Download ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and reputable technique of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Worker Website provides employees with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to global workers despite the number of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional benefits service providers in every nation, create local accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per area, total work costs per cycle and far more.
Globally, I have demonstrated management and strategic competence in assisting massive populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for the majority of influential companies in the world we offer payroll payments and labor force management to all employee key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various roles on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really 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 drizzling here it's extremely really gloomy and I wish I was somewhere else at this moment in time all right so let's get started 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 business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll also discuss a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more common and handling them becomes increasingly more complicated International companies are wanting to discover Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment perspective many companies preserve different checking account just for payroll while some have numerous accounts in various nations does it make sense for companies to preserve different checking account sometimes in various countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies simplify the episode complex procedures of
making payroll payments accurately effectively securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most importantly regulations compliance data security and banking guidelines then there are the sheer numbers they include additional intricacy the global Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll model there's often an overwhelming variety of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely basic there's no genuine consistency framework we're residing in a period of tech however payroll has 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 whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international businesses have expressed that they do not 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 bad HCM data information entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they count on the needed multiple processes 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 business face when they're paying to employees or otherwise that's a good concern I always toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's varying Bank information 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 have 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 ultimately constructing a knowledge base is definitely vital however 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 sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to type of progress with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 frequently 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
world we live in and wellness being a growing number of essential to add to type of the level of complexity there's a growing number of benefits being organ or being offered by businesses across the world so again you're simply looking to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine obstacles or genuine challenging type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the larger a company 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 information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in an era 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 stated payroll is the single most significant liability that any business has from an expense viewpoint from an impact perspective on workers it is absolutely vital 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 have to be done right it has the greatest harmful impact on people's well-being and numerous other factors if people aren't paid uh I've constantly been surprised entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only notice when things fail. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first Global Payments first payroll payment solution is an excellent initial action towards supplying a thorough payroll option for workers worldwide. Standardization, global processes, and lowering the number of tools, platforms, and checking account necessary for worldwide payroll are essential factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as prepared. Ultimately, we do not do it for the appreciation.
anyhow we know how how crucial 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 procedures and likewise so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean up 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 require days of the week to attempt to check out them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do business choose to primary different savings account there are organizations out there doing precisely this for specific nations and I have actually worked in a service or many services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating additional work for anybody where we do not need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs changing however eventually individuals are very stuck to what they recognize
with best um change is a hard thing all of us don't like change um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having keeping several savings account however there's a huge amount of complexity opts for setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is huge but I believe the honest response is change um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or so there is a lot to track and this technique does pose a number of obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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