Find out more about Papaya Global Timesheet Entry ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and trustworthy approach of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Worker Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to global workers regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local advantages providers in every country, produce local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include different functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the procedure of inviting brand-new workers and bidding farewell to leaving ones, using a protected online platform for storing employees' files, and offering assistance for work allow procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs dispersed per area, total employment costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical expertise in assisting large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on providing 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 introduce himself. Good day to all, despite your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've type of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it is 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 extremely very dreary and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business keep separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most notably regulations compliance data security and banking rules then there are the large numbers they include further complexity the international Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 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 often a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or extremely extremely fundamental there's no real consistency framework we're residing in an age of tech however payroll has 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 believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on international payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide businesses have actually 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 information information entry errors inadequately interacted hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the needed multiple 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 challenges service face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be thought about there's differing 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 abilities 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 anywhere you look best eventually developing a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 innovation is permitting us to kind of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the settlement landscape is ending up being progressively detailed. Companies are continually presenting new advantages and payment options, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's technically innovative age, there's no justification for maintaining troublesome treatments. Payroll, the company's most significant expenditure, must be processed properly and on time. Even minor hold-ups can adversely impact workers' well-being and have far-reaching repercussions. For that reason, it's vital to prioritize precise and timely payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only discover when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is vital to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the first International Payments first payroll payment service is a fantastic initial step towards providing a detailed payroll option for workers worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and savings account essential for global payroll are key consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyhow 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 simple as possible for everybody that's associated with those processes and likewise so picture sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine 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 however it would certainly be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to return to everyone so carrying on look why do business select to main different checking account there are companies out there doing precisely this for particular countries and I've worked in a service or lots of businesses doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not have to and anyone that's managing that procedure 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 many factors one is it's the requirement I believe people have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it requires changing but ultimately people are very stuck to what they recognize
with right um change is a tough thing we all don't like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having keeping numerous savings account however there's a big quantity of complexity opts for setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is substantial but I believe the truthful response is modification um people haven't been able to alter or have not had always the knowledge 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 think it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century approximately there is a lot to keep track of and this approach does present several difficulties um so Johnny might you tell us about those obstacles yeah of course 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 handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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