Find out more about Papaya Global Journal Template ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and reliable approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Worker Portal provides staff members with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to international employees regardless of the number of workers in the business. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses distributed per area, total employment costs per cycle and much more.
Globally, I have demonstrated leadership and tactical competence in guiding massive populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for managing payroll methods, as mentioned by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most notably regulations compliance information security and banking rules then there are the large numbers they include further complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's typically an overwhelming variety of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely extremely standard there's no genuine consistency structure we're residing in an era 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 and that simply 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 only 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in global payroll the less of an image they see an absence of presence also extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system setups and after that when you round all of it off and the information is shipped to the incorrect location the average expense of a worldwide data 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 do not run efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they resemble super payments no if however 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to type of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on wellness and the compensation landscape is ending up being progressively detailed. Businesses are continually presenting brand-new advantages and payment options, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically innovative era, there's no reason for preserving troublesome treatments. Payroll, the company's most significant expense, should be processed correctly and on time. Even minor delays can negatively impact workers' well-being and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and timely payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment service is an excellent first step um providing an end-to-end payroll solution for your staff members worldwide again I believe is another substantial um procedure again lining up and ensuring you have standardization Global procedures all of those things are absolutely key to success success of services and minimizing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential a function 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 everybody that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and type of try to return to everyone so proceeding look why do companies choose to primary different bank accounts there are companies out there doing precisely this for particular nations and I've worked in a service or many businesses doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we don't need to and anyone that's dealing with that process 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 believe lots of reasons one is it's the standard I think individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it needs altering but eventually individuals are very stuck with what they're familiar
with ideal um modification is a hard thing all of us do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining several savings account but there's a huge quantity of intricacy opts for setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is substantial but I believe the sincere answer is change um individuals haven't been able to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose several obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I simply did you switched 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 Global employees you should have a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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