Find out more about Papaya Global New Company Greyed Out ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and reputable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Staff member Website offers employees with the capability to access 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 offered in numerous languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to worldwide workers regardless of the number of staff members in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total employment costs dispersed per location, overall employment expenses per cycle and far more.
Internationally, I have demonstrated leadership and tactical expertise in directing large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to meet 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 focused on payroll and payment services for the past seven years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really very bleak and I want 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 looking at the challenge years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in sufficient in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most importantly policies compliance information security and banking rules then there are the large numbers they add additional complexity the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 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 around the globe in the conventional payroll design there's often a frustrating number of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or very really fundamental there's no genuine consistency framework we're residing in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations 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 errors are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the data is shipped to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the essential numerous procedures 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 difficulties service face when they're paying to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is absolutely critical but 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 take a look at the kind 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 essential and technology is enabling us to kind of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being used by companies across the world so again you're just seeking to add more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real difficulties or real difficult type of pay utilizes 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 functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect viewpoint on staff members it is definitely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging impact on individuals's well-being and many other factors if individuals aren't paid uh I've constantly been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally too. For that reason, it is essential to ensure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment service is an excellent preliminary step towards providing a comprehensive payroll service for workers worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account needed for worldwide payroll are essential factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway 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 imagine sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everybody so moving on appearance why do business pick to main separate bank accounts there are services out there doing precisely this for specific nations and I've worked in a business or numerous companies doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I believe individuals have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing however ultimately people are really stuck to what they recognize
with right um change is a tough thing we all do not like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having preserving numerous savings account but there's a big amount of complexity chooses establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is big but I believe the truthful answer is modification um people have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to track and this technique does posture several challenges um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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