Find out more about Papaya Global P60 ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Portal provides staff members with the capability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to international workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, develop local accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work costs distributed per location, total employment costs per cycle and far more.
Internationally, I have actually demonstrated leadership and strategic proficiency in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very dreary and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also go over a recap and that needs to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and managing them ends up being more and more complex International organizations are seeking to find Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment viewpoint many companies preserve different savings account just for payroll while some have several accounts in various nations does it make good sense for business to maintain separate bank accounts in some cases in different nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business streamline the episode complex processes of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly guidelines compliance data security and banking guidelines then there are the large numbers they add additional complexity the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 world in the traditional payroll design there's often a frustrating number of various systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large quantities and or really extremely fundamental there's no real consistency framework we're living in a period of tech but 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 and that just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in international payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide services have revealed 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 data data entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the essential 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 organization face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it need to be thought about there's varying Bank details 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 best eventually building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to kind of move on with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely vital that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by services throughout the world so once again you're just seeking to add a growing number of payments to this currently complex 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 real obstacles or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they need 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 hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost viewpoint from an effect perspective on staff members it is absolutely 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 damaging impact on individuals's wellness and many other factors if people 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
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally too. For that reason, it is necessary to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Using the first International Payments first payroll payment service is a terrific initial action towards providing a comprehensive payroll service for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account essential for global payroll are crucial factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow we understand how how essential 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 everybody that's involved in those processes and likewise so imagine sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and type of shot to get back to everybody so carrying on look why do companies select to primary different bank accounts there are organizations out there doing precisely this for specific countries and I've operated in a company or numerous businesses doing exactly that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not developing 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 thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous 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 purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering however eventually people are really stuck with what they recognize
with right um change is a hard thing all of us 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 stuff um I comprehend obviously the advantages of having preserving several checking account however there's a substantial amount of complexity opts for establishing a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is big but I believe the truthful response is modification um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to monitor and this technique does pose a number of obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise 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 actually acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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