Find out more about Papaya Global And Nest Pension Which Nominal Code ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to worldwide employees regardless of the variety of employees in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every country, create regional accounts and have a minimum number of employees.
The HR abilities provided by International HR include numerous functions such as keeping track of vacation time, ensuring compliance, facilitating the procedure of inviting new workers and bidding goodbye to leaving ones, providing a protected online platform for keeping workers' files, and offering support for work allow procedures in case your staff members need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total work expenses dispersed per place, overall employment costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Enterprise customers and options in addition to functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of various roles on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everybody another number 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 intriguing 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 truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really bleak and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business preserve different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out 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 offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most notably regulations compliance data security and banking rules then there are the sheer numbers they include further intricacy the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated 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 factor in that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll design there's typically an overwhelming number of various systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or very really fundamental there's no genuine consistency structure we're living in an age of tech but 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 which simply blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a business invests in international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of ideal and what does
it need 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 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 have to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe 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 too to add to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to contribute to kind of the level of intricacy there's more and more advantages being organ or being provided by services throughout the world so once again you're simply looking to add a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real difficulties or genuine tough sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups 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 does not always need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost perspective from an effect viewpoint on staff members it is definitely important that it's done correctly 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 harmful effect on people's wellness and many other aspects if people aren't paid uh I've always been amazed entering this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is an excellent primary step um providing an end-to-end payroll service for your employees worldwide again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of services and lowering the variety of tools platforms and checking account 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how important a function it is which'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 everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everyone so carrying on look why do business choose to primary separate checking account there are companies out there doing exactly this for specific countries and I've operated in a business or numerous businesses doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not developing additional work for anybody where we don't have to and any person that's dealing with that procedure 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 factors one is it's the standard I think people have actually got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it requires changing but eventually people are extremely stuck to what they recognize
with ideal um change is a challenging thing all of us don't like modification um so I believe it's simply sort of moving away 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 multiple checking account but there's a substantial amount of complexity goes with setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is big however I think the honest response is change um people have not been able 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 change however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does present a number of difficulties um so Johnny could you tell us about those difficulties yeah naturally 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 jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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