Find out more about Papaya Global Trial ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to global workers despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits suppliers in every nation, develop regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work costs dispersed per area, total employment costs per cycle and a lot more.
Worldwide, I have shown management and strategic proficiency in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've sort of had a range of different functions on the company side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us 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 already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly 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 raining here it's really really bleak and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business keep separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic 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 securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most importantly policies compliance data security and banking guidelines then there are the large numbers they add additional intricacy the international Labor force is currently three and a half billion individuals by 2030 it's approximated 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 businesses and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating number of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really very standard there's no genuine consistency structure we're residing in an age 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 frequently with pen and paper and that simply blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of global businesses have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors inadequately interacted hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a good concern I constantly toss this back and state what is it what does not need to be included best 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 time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some infants 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 acknowledgment that payroll payments are absolutely essential and innovation is enabling us to sort of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely crucial that payroll and finance groups work more detailed together than ever um I'm constantly surprised when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to contribute to type of the level of intricacy there's increasingly more advantages being organ or being offered by services throughout the world so once again you're just aiming to include a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real challenges or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost viewpoint from an effect viewpoint on employees it is absolutely vital 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 destructive effect on people's wellness and numerous other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific 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. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. For that reason, it is vital to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the very first Global Payments very first payroll payment service is a terrific initial action towards supplying a thorough payroll service for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and checking account necessary for worldwide payroll are essential factors in achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we understand how how crucial a function 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 think of sorry I'm just I was just gon na state picture 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 speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean up 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 require days of the week to try to look through them and actually see what was going on and type of shot to return to everyone so carrying on look why do business choose to primary different checking account there are companies out there doing exactly this for specific nations and I've operated in a service or numerous companies doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I think individuals have got so used to we require a brand-new checking account we open an entity and rightly 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 requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways 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 needs changing however ultimately people are really stuck to what they recognize
with best um modification is a tough thing we all do not like change um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having maintaining several bank accounts however there's a big quantity of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is substantial however I believe the honest answer is change um people have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this approach does position a number of difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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