Find out more about Papaya Global Historical Reports ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reliable technique of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, conserving me a substantial quantity of time each month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global staff members regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, create local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment costs distributed per place, overall work costs per cycle and a lot more.
Globally, I have shown management and tactical expertise in directing massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll methods, as discussed by Mark. My function includes handling and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
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 supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out 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 pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different functions on the provider side and also on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort 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 drizzling here it's very very uninspiring and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most importantly regulations compliance data security and banking rules then there are the large numbers they include more intricacy the global Workforce is currently 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 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 worldwide in the standard payroll design there's often a frustrating variety of different systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely really standard there's no genuine consistency structure we're residing in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global businesses have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry mistakes poorly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges business face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and say what is it what doesn't need to be included right and what does
it require to be thought of 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 capabilities 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 client's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 permitting us to sort of move forward with that it also also to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the settlement landscape is becoming significantly complex. Services are continuously presenting brand-new advantages and payment alternatives, which contributes to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technologically sophisticated era, there's no reason for preserving troublesome treatments. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even small hold-ups can adversely affect staff members' wellness and have far-reaching repercussions. For that reason, it's vital to focus on accurate and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only discover when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. Therefore, it is essential to ensure that jobs like Wi-Fi International and other important matters are done correctly. Using the first Worldwide Payments first payroll payment solution is a fantastic initial action towards providing a comprehensive payroll option for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account required for worldwide payroll are key factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we understand how how essential 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and sort of try to return to everybody so proceeding look why do business choose to primary separate checking account there are companies out there doing precisely this for specific nations and I have actually worked in a business or numerous organizations doing exactly that I can say it does not always feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think people have got so used to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing however eventually people are really stuck with what they recognize
with best um change is a hard thing all of us do not like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having maintaining several checking account but there's a substantial amount of intricacy opts for establishing a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is big however I believe the truthful response is modification um individuals have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to monitor and this method does present a number of difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I simply did you changed 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 International workers you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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