Find out more about Reprint P60 Papaya Global ... We now have the ability to manage 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 handling payments. This offers us with a secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Employee Portal provides employees with the capability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to global staff members despite the number of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional advantages service providers in every country, create local accounts and have a minimum number of workers.
The HR capabilities provided by Global HR incorporate different functions such as monitoring holiday time, making sure compliance, assisting in the procedure of inviting new staff members and bidding farewell to departing ones, providing a protected online platform for keeping employees' files, and offering support for work allow procedures in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment costs distributed per area, total employment costs per cycle and much more.
Internationally, I have shown leadership and tactical competence in assisting large-scale populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for supervising payroll methods, as mentioned by Mark. My role involves managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for many influential companies in the world we supply payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a range of various roles on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I really 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 really gloomy and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one country but when you're doing it internationally 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 additional intricacy the global Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people 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 all over the world in the traditional payroll model there's typically an overwhelming number of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or very very fundamental there's no genuine consistency framework we're residing in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service spends on worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide businesses have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes improperly interacted hires and terminations along with lack management and system setups and then when you round it all off and the data is shipped to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the necessary multiple processes systems and partners it is simply 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 great question I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 consumer's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to kind of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise 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 complexity there's increasingly more advantages being organ or being used by organizations throughout the world so again you're simply seeking to include a growing number of payments to this already intricate landscape so if you type 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 genuine difficult sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs while doing sos that we operate in they simply 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 an age that you understand that we are working in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an effect viewpoint on employees it is absolutely crucial that it's done properly and on time so what we imply 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 damaging result on individuals's well-being and many other aspects if individuals aren't paid uh I have actually always been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider 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 Global Payments very first payroll payment option is a fantastic first step um providing an end-to-end payroll solution for your staff members globally once again I believe is another substantial um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
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 simple as possible for everybody that's associated with those procedures and also so picture sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and in fact see what was going on and kind of shot to get back to everybody so carrying on look why do business select to main different savings account there are services out there doing exactly this for specific nations and I've worked in a service or many companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anybody where we do not have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it needs altering however ultimately people are extremely stuck to what they're familiar
with right um change is a tough thing all of us do not like modification um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple savings account but there's a substantial amount of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is huge but I think the sincere answer is change um people haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we've 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 might practically be identified to be the next Century approximately there is a lot to monitor and this technique does posture a number of challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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