Find out more about Papaya Global Auto Enrolment Edition ... 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 actually acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and trusted approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Worker Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to worldwide workers no matter the number of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every nation, produce local accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR incorporate numerous functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the procedure of welcoming new employees and bidding farewell to leaving ones, using a protected online platform for keeping workers' documents, and providing support for work allow treatments in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall employment expenses dispersed per location, total employment costs per cycle and much more.
Globally, I have actually shown leadership and tactical know-how in directing massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various roles on the service provider side and likewise on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody 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 sunlight is it it's not no it's it's raining here it's really very gloomy and I wish I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies preserve different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance data security and banking rules then there are the large numbers they include more intricacy the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating number of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or really very standard there's no real consistency framework we're residing in a period of tech but 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 just blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of global businesses have actually expressed 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 bad HCM data data entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and after that 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 when payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they count on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're making payments to workers or otherwise that's a great question I constantly throw this back and say what is it what does not need to be included best and what does
it require to be considered there's varying 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 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 client's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to sort of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely essential that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the payment landscape is becoming significantly intricate. Services are continually presenting brand-new benefits and payment options, which contributes to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's highly sophisticated period, there's no justification for keeping cumbersome procedures. Payroll, the company's most significant expense, must be processed correctly and on time. Even small hold-ups can negatively impact employees' well-being and have significant effects. Therefore, it's critical to prioritize precise and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just discover when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally also. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the very first Worldwide Payments first payroll payment option is a terrific preliminary action towards supplying a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and savings account needed for worldwide payroll are crucial factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow 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 everyone that's involved in those procedures and also so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to return to everybody so carrying on appearance why do business select to primary different checking account there are businesses out there doing exactly this for particular nations and I've operated in a company or lots of services doing exactly that I can say it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering however eventually individuals are extremely stuck to what they're familiar
with best um change is a hard thing we all don't like modification um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having keeping numerous savings account but there's a huge amount of complexity goes with establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for private people so the intricacy is big however I think the honest answer is change um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I think 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 reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century or two there is a lot to monitor and this technique does present several challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I just did you switched 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 employees you deserve a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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