Find out more about Papaya Global Auto Enrolment Module ... We now have the ability to handle both our payroll and payments procedures 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 safe and secure and reliable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll process, conserving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to worldwide staff members despite the number of employees in the business. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages service providers in every country, develop local accounts and have a minimum number of workers.
The HR capabilities offered by Global HR encompass numerous functions such as keeping track of holiday time, making sure compliance, assisting in the procedure of inviting brand-new workers and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' documents, and providing support for work permit procedures in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall employment costs distributed per location, total work costs per cycle and far more.
Globally, I have shown leadership and strategic competence in directing large-scale populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment solutions for the past 7 years. The complexities and challenges 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 six years where I've sort of had a range of different roles on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type 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 type of like see where everyone originates from and I truly 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 extremely dreary and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll likewise review a recap which needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and handling them becomes increasingly more complicated Global companies are wanting to find Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment perspective many organizations preserve different bank account just for payroll while some have numerous accounts in different nations does it make sense for business to maintain separate bank accounts sometimes in different countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex procedures of
making payroll payments properly effectively firmly 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 business properly forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add more complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's often a frustrating variety of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really fundamental there's no genuine consistency framework we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a service spends on international payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors poorly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the data is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to workers or otherwise that's a great 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 country 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 intricacy wherever you look ideal eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some children 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 recognition that payroll payments are definitely basic and technology is enabling us to kind of progress with that it also too to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always 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 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on wellness and the settlement landscape is ending up being significantly complex. Services are constantly presenting brand-new benefits and payment choices, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically advanced period, there's no validation for maintaining cumbersome treatments. Payroll, the company's most significant expenditure, should be processed properly and on time. Even small hold-ups can negatively affect employees' wellness and have far-reaching effects. Therefore, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm unsure anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone 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 deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the first International Payments very first payroll payment solution is an excellent first step um supplying an end-to-end payroll option for your employees worldwide once again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of businesses and minimizing the variety of tools platforms and bank accounts they need for their Global 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've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know how how crucial a role 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 procedures and also so envision sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh absolutely 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 look through them and actually see what was going on and kind of try to return to everyone so proceeding look why do business select to primary separate checking account there are services out there doing precisely this for specific nations and I've worked in a company or many businesses doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anyone where we do not need to and any person that's managing that procedure 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 many reasons one is it's the standard I think individuals have got so utilized to we require a brand-new savings 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 standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it needs altering however eventually individuals are very stuck to what they're familiar
with right um change is a challenging thing all of us don't like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping numerous checking account however there's a big amount of intricacy goes with establishing a checking account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for specific people so the intricacy is big however I believe the honest response is modification um people have not had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however 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 proceeding and moving into you know what might practically be identified to be the next Century or two there is a lot to keep an eye on and this method does present several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched 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 should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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