Find out more about Papaya Global And Accounts 50 Multi Com0Any.Costs ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and dependable technique of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Staff member Portal offers employees with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, create regional accounts and have a minimum number of staff members.
The HR capabilities supplied by International HR include different functions such as keeping an eye on vacation time, guaranteeing compliance, facilitating the process of inviting new staff members and bidding goodbye to departing ones, using a safe and secure online platform for saving workers' documents, and offering support for work allow procedures in case your employees require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total employment expenses dispersed per area, total employment expenses per cycle and much more.
Worldwide, I have actually demonstrated leadership and tactical know-how in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually type of had a variety of various roles on the company side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to type 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 sunlight is it it's not no it's it's raining here it's really extremely dreary 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 challenge years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. 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 recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance information security and banking guidelines then there are the sheer numbers they include further complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals 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 traditional payroll model there's frequently an overwhelming number of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or very really fundamental there's no real consistency framework we're residing in a period of tech but 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 whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in global payroll the less of a photo they see a lack of visibility also encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have actually revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors poorly interacted hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not 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 difficulties service face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of right and what does
it require to be thought of there's differing Bank information 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 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 any place you look best ultimately building a knowledge base is absolutely important but all over you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you 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 basic and technology is allowing us to type of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely important that payroll and financing teams work more detailed together than ever um I'm always amazed when individuals state I've divided payroll and payment um if you stroll 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 typically 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 anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's more and more advantages being organ or being provided by services across the world so once again you're just seeking to add increasingly more payments to this already intricate landscape so if you type 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 real challenges or genuine challenging kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams 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 however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from a cost point of view from an impact viewpoint on staff members it is absolutely important that it's done correctly 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 biggest destructive result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last 5 to 10 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 fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just discover when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally also. For that reason, it is important to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment service is a terrific preliminary step towards supplying a thorough payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and bank accounts needed for international payroll are essential factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow we know how how essential 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 involved in those processes and also so imagine sorry I'm just I was just 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 discussing numerous thousands potentially 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 absolutely 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 was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to get back to everyone so proceeding appearance why do business select to primary different savings account there are companies out there doing exactly this for specific countries and I have actually worked in an organization or numerous companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for any person where we do not need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I believe people have actually got so utilized to we require a new savings 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 believe 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 contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs altering but ultimately people are very stuck to what they're familiar
with ideal um change is a hard thing we all don't like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having preserving numerous checking account but there's a huge amount of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the complexity is big but I believe the truthful response is change um people haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does posture numerous obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety 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 International staff members you are worthy of a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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