Find out more about Papaya Global Import Templates ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and reliable approach of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, saving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Employee Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to worldwide staff members no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, create regional accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total work costs distributed per location, total work expenses per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and strategic knowledge in directing massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll techniques, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of prominent companies on the planet we supply payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually type of had a range of various functions on the service provider side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort 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 raining here it's very really uninspiring and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up which must leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and handling them becomes a growing number of complicated Global companies are aiming to discover Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment viewpoint lots of organizations keep different checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain different bank accounts in some cases in different countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex procedures of
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most notably policies compliance information security and banking rules then there are the sheer numbers they add additional complexity 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 more 1.1 billion individuals that number is currently 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 an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or extremely extremely standard there's no genuine consistency structure we're residing in a period of tech but 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 just 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 organizations say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on international payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the necessary 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 challenges service face when they're paying to employees 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 require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 consumer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is definitely vital however everywhere 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 take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to kind of the level of complexity there's increasingly more benefits being organ or being provided by companies throughout the world so once again you're just seeking to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine difficult type of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any service has from an expense perspective from an impact viewpoint on staff members 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 greatest harmful result on individuals's well-being and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a fantastic initial step um supplying an end-to-end payroll service for your workers globally once again I think is another substantial um process again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and minimizing the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 everybody that's associated with those processes and likewise so picture sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and kind of try to get back to everybody so proceeding appearance why do companies select to primary different checking account there are services out there doing exactly this for specific countries and I've operated in a service or lots of companies doing precisely that I can state it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't need to and anybody 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 amount that we are I think numerous reasons one is it's the standard I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a range I think this is a process that needs looking at it requires changing however ultimately people are very stuck with what they recognize
with best um modification is a tough thing all of us don't like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping numerous bank accounts however there's a huge amount of intricacy goes with establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific people so the complexity is huge however I think the sincere answer is change um individuals haven't been able to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does position several challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change 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 gotten another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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