Find out more about Papaya Global Change Default Data Location ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and reputable approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to global staff members no matter the variety of workers in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs distributed per area, overall work costs per cycle and much more.
Internationally, I have actually shown management and strategic competence in guiding large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for managing payroll strategies, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right 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 interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually 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 raining here it's extremely really bleak and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll also review a wrap-up which needs to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them ends up being increasingly more complicated International companies are looking to discover Solutions and new methods to simplify procedures especially from a payroll and cross-border payment standpoint numerous organizations keep different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain separate checking account sometimes in various nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies enhance the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 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 all over the world in the conventional payroll design there's typically an overwhelming number of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or very extremely fundamental there's no genuine consistency framework we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more an organization spends on global payroll the less of an image they see a lack of presence also reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of global businesses have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information 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 information is delivered to the wrong place the average cost of an international data 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 do not run smoothly if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great question I constantly toss this back and say what is it what does not require to be consisted of right and what does
it need to be considered 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 abilities 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 customer's own in-country account so there's intricacy anywhere you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some infants 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 recognition that payroll payments are absolutely essential and technology is permitting us to sort of move forward with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance teams work better together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide 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 however likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is becoming progressively detailed. Companies are continuously presenting brand-new advantages and payment options, which adds to the general complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically sophisticated age, there's no validation for keeping cumbersome treatments. Payroll, the company's most significant cost, must be processed properly and on time. Even slight hold-ups can adversely impact workers' wellness and have significant effects. For that reason, it's vital to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anybody on this kind 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 workers or not um but eventually payroll is such an essential cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent first step um supplying an end-to-end payroll option for your employees globally again I believe is another huge um process once again aligning and guaranteeing you have standardization International processes all of those things are absolutely essential to success success of companies and lowering the number of tools platforms and bank accounts they require for their International 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 five 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 in fact doing that for for the thanks
anyway we understand 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 everyone that's involved in those procedures and likewise so envision sorry I'm just I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everyone so moving on appearance why do business choose to main different savings account there are services out there doing precisely this for particular countries and I have actually worked in a company or many businesses doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for any person where we don't need to and any person that's managing 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 believe lots of reasons one is it's the requirement I think people have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look 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 changing but eventually people are really stuck to what they recognize
with best um change is a tough thing we all do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous checking account however there's a substantial amount of intricacy chooses establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is big but I think the sincere answer is modification um people haven't been able to alter or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking 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 constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to track and this technique does pose numerous obstacles um so Johnny could you tell us about those obstacles yeah obviously 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 manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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