Find out more about Papaya Global Change Total Gross Td ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits plans to international staff members regardless of the number of employees in the company. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of employees.
The HR abilities provided by Worldwide HR encompass various functions such as keeping track of trip time, making sure compliance, helping with the procedure of inviting new workers and bidding goodbye to departing ones, providing a secure online platform for saving employees' documents, and supplying assistance for work permit treatments in case your workers need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall work costs distributed per place, overall employment expenses per cycle and a lot more.
Internationally, I have actually shown management and strategic know-how in directing massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce 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 satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually type of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing 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 originates 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 drizzling here it's extremely extremely gloomy and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical property uh we'll likewise discuss a wrap-up which ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and managing them ends up being increasingly more complex Worldwide organizations are wanting to find Solutions and new ways to enhance processes particularly from a payroll and cross-border payment viewpoint numerous organizations keep separate savings account just for payroll while some have multiple accounts in various countries does it make good sense for companies to keep separate bank accounts often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies enhance the episode complex procedures of
making payroll payments accurately effectively securely 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 precisely forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 globe in the conventional payroll model there's frequently an overwhelming variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely really standard there's no real consistency framework we're residing in an era of tech but payroll has actually 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 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 only 11 of businesses say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in global payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of global organizations have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the necessary multiple 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 challenges organization face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be consisted of best and what does
it need to be thought about 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 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 client's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a 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 basic and technology is permitting us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work closer together than ever um I'm constantly amazed when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to type of the level of complexity there's a growing number of advantages being organ or being provided by businesses throughout the world so once again you're simply seeking to add increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real obstacles or real challenging type of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any business has from an expense perspective from an impact point of view on employees it is absolutely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging effect on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. Therefore, it is essential to ensure that jobs like Wi-Fi International and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment service is a terrific preliminary step towards supplying a comprehensive payroll solution for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account necessary for global payroll are essential factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we understand how how essential a role 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 everybody that's associated with those procedures and also so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely 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 try to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do business choose to primary different savings account there are businesses out there doing precisely this for particular countries and I've worked in a company or lots of companies doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't need to and anybody that's managing 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 quantity that we are I believe many reasons one is it's the standard I believe people have got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe 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 people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering however ultimately individuals are really stuck to what they recognize
with best um modification is a tough thing all of us do not like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having preserving several bank accounts but there's a huge quantity of intricacy chooses setting up a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is substantial however I believe the honest response is modification um individuals haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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