Find out more about Payslip Papaya Global ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Portal offers employees with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages plans to international employees despite the variety of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages companies in every country, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total work expenses dispersed per location, overall employment expenses per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business managing and building external relationships supporting Enterprise customers and services in addition to functioning as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many influential companies in the world we supply payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good evening depending on where you remain in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a range of various functions on the company side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone 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 definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was elsewhere 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 managing Global payroll why business keep different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the large numbers they add further complexity the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating variety of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or very really fundamental there's no real consistency structure we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of global services have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes badly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the wrong place the average expense of a worldwide information 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 efficiently if they count on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're paying to employees or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be included ideal and what does
it need to be considered 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 need to pay from the customer's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is absolutely crucial but all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to sort of move on with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work closer together than ever um I'm constantly amazed 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 work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being used by companies throughout the world so once again you're just wanting to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or real difficult sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly say that the larger an organization 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 teams feeding details into the next function as it were that's actually managing the payment side of things but you know 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 produce additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense perspective from an impact viewpoint on staff members it is absolutely vital that it's done correctly and on time so what we indicate 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 harmful result on individuals's wellness and many other aspects if individuals aren't paid uh I have actually always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just notice when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. Therefore, it is vital to guarantee that jobs like Wi-Fi International and other vital matters are done correctly. Using the first Worldwide Payments very first payroll payment option is a terrific initial step towards offering an extensive payroll solution for workers worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account needed for global payroll are crucial consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how essential 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 involved in those processes and also so imagine sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of 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 however it would certainly be an intriguing job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and sort of shot to get back to everybody so carrying on look why do business select to primary separate checking account there are companies out there doing precisely this for particular countries and I've operated in a business or many companies doing precisely that I can say it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not producing extra work for any person where we do not have to and any person 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 amount that we are I think many reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are very stuck with what they recognize
with ideal um modification is a hard thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining numerous bank accounts but there's a big quantity of complexity goes with setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is substantial but I think the truthful response is modification um individuals haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century approximately there is a lot to monitor and this method does posture several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Business 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 gained another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your achievements.
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