Find out more about Papaya Global Services Employee ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to global workers regardless of the variety of employees in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional advantages suppliers in every nation, create local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs dispersed per place, total employment costs per cycle and a lot more.
Internationally, I have actually demonstrated management and tactical proficiency in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and workforce management services to staff members 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 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 decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've kind of had a variety of various roles on the provider side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two 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 intriguing and I can see it going on already simply to hear where everybody 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really bleak and I want I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll also review a recap which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them ends up being more and more intricate International organizations are wanting to discover Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment standpoint lots of companies maintain separate checking account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain separate bank accounts often in various countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business simplify the episode complex procedures of
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they add further intricacy the global Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the conventional payroll model there's frequently a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely really basic there's no real consistency framework we're living in an era of tech but payroll has actually been slow 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 each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on international payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of international companies have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be included right and what does
it require 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 need to pay from the client's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they are like super payments no if but some children 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 believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to sort of move on with that it also as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process 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 live in and wellness being increasingly more essential to add to sort of the level of intricacy there's more and more advantages being organ or being provided by organizations across the world so once again you're just aiming to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real difficult type of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate 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 a period 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 tough as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact perspective on staff members it is definitely vital that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been astonished entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just see when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. For that reason, it is vital to guarantee that tasks like Wi-Fi Worldwide and other important matters are done properly. Using the first International Payments first payroll payment service is a great preliminary step towards providing an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and savings 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 periodically get a few grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we know how how crucial 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 simple as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that lots of 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 a fascinating job attempting to clean all those up for sure oh definitely 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 attempt to check out them and actually see what was going on and kind of try to get back to everyone so carrying on look why do companies pick to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually operated in a service or lots of companies doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person where we do not need to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe individuals have got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a process that needs looking at it needs changing however ultimately individuals are extremely stuck to what they're familiar
with right um modification is a hard thing we all don't like change um so I think it's just kind 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 obviously the advantages of having keeping numerous checking account but there's a big quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is huge however I believe the sincere response is change um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does pose numerous challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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