Find out more about Papaya Global Assign Code Deduction ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Employee Portal provides staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business use competitive benefits packages to global staff members regardless of the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall employment expenses dispersed per location, overall work costs per cycle and much more.
Internationally, I have actually shown management and strategic proficiency in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll techniques, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your valuable 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 concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various roles on the company side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone 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 very really bleak and I wish I was somewhere else at this moment in time fine so let's get going our program 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 handling payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they include more intricacy the international Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 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 model there's often an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or very extremely basic there's no genuine consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction nearly half of international organizations have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors badly communicated hires and terminations in addition to lack management and system configurations and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the needed numerous 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 difficulties organization face when they're making payments to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be consisted of right and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 consumer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 fundamental and technology is allowing us to sort of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm always astonished 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 computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to contribute to type of the level of intricacy there's more and more benefits being organ or being provided by businesses across the world so once again you're just looking to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay people I think yeah I mean over the last well yeah a number of decades I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you understand 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 simply make them more timely they make them less effective and they do not make them what they require 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 tough as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any business has from an expense perspective from an effect point of view on employees it is definitely critical 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 need to be done right it has the biggest detrimental result on people's well-being and lots of other factors if individuals aren't paid uh I've always been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has actually been informed 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 staff members or not um but ultimately payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment option is a fantastic initial step um supplying an end-to-end payroll service for your employees globally once again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of services and decreasing the number 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 countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyway we know 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 everybody that's associated with those processes and likewise so think of sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine 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 however it would definitely be a fascinating job attempting to clean 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 require days of the week to attempt to look through them and in fact see what was going on and type of shot to return to everyone so carrying on look why do business select to main separate savings account there are businesses out there doing exactly this for particular nations and I have actually worked in a business or lots of businesses doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and anybody that's handling 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 think numerous reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank 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 just been the requirement and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it needs altering but eventually individuals are extremely stuck with what they recognize
with right um modification is a challenging thing all of us do not like modification um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving multiple savings account however there's a big quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big but I think the truthful answer is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change 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 moving on and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to track and this approach does pose several obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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