Find out more about Papaya Global Remove Company From List ... 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 obtained a different Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and trusted technique of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, conserving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Worker Website supplies staff members with the ability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to global workers no matter the variety of staff members in the company. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source local advantages service providers in every nation, develop regional 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 employees' files and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total work costs dispersed per place, total employment costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in directing massive populations of over 100,000 staff members across 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet 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 years of experience in the payments market, I have concentrated on payroll and payment options 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 have actually sort of had a range of different roles on the company side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly 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 drizzling here it's really extremely bleak and I wish I was elsewhere 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 Global payroll why business keep different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical 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 precisely efficiently securely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most notably policies compliance data security and banking rules then there are the sheer numbers they add additional intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's often an overwhelming variety of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely really basic there's no genuine consistency framework we're living in an era 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 typically 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 only 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide companies have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they depend on the needed several procedures 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 obstacles organization face when they're paying to workers or otherwise that's a great concern I always throw this back and state what is it what does not require 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 timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely vital but all over 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 sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work closer together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide 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 individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to sort of the level of intricacy there's more and more advantages being organ or being offered by services throughout the world so again you're just looking to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine difficulties or real tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of years I would absolutely say that the larger an organization 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 teams feeding information into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact perspective on workers it is absolutely crucial that it's done properly and on time so what we indicate 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 effect on individuals's wellness and lots of other factors if individuals aren't paid uh I have actually always been astonished entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all hear about it when it goes wrong everyone 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 view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is a great initial step um providing an end-to-end payroll solution for your staff members internationally again I believe is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of companies and decreasing the number of tools platforms and bank accounts they need 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 have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 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 think any of us are actually doing that for for the thanks
anyway we know how how crucial 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 everyone that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say envision 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 hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to get back to everybody so carrying on look why do business select to primary separate savings account there are organizations out there doing exactly this for particular nations and I have actually operated in a business or many companies doing exactly that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing additional work for any person where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think people have actually got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs changing however eventually individuals are really stuck to what they recognize
with best um modification is a challenging thing all of us do not like change um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping multiple savings account however there's a huge quantity of intricacy opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is big however I believe the sincere answer is change um individuals have not been able to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to track and this method does present several challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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