Find out more about Papaya Global Claim Last Year Statutonary Maternity ... 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 different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and dependable method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits packages to worldwide employees no matter the variety of staff members in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every nation, produce local accounts and have a minimum variety of workers.
The HR abilities offered by Global HR incorporate different functions such as keeping track of trip time, making sure compliance, assisting in the process of inviting brand-new workers and bidding goodbye to departing ones, providing a safe and secure online platform for storing employees' documents, and offering support for work allow procedures in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment costs dispersed per area, total employment costs per cycle and a lot more.
Worldwide, I have shown management and tactical competence in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My function includes managing and developing external partnerships, supporting Business customers, 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 global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to meet 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 decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a range of various roles on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I really 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 extremely really uninspiring and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further complexity the global Labor force is currently three and a half billion people 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 organizations and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really really fundamental there's no real consistency structure 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 often with pen and paper which just blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on global payroll the less of a photo they see an absence 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 almost half of worldwide services 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 because of time reporting bad HCM data information entry errors badly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the information is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought about there's differing 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look right 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 sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of move forward with that it also too to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I have actually split 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 calculation 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 data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on well-being and the compensation landscape is becoming increasingly detailed. Businesses are continuously presenting brand-new advantages and payment options, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my viewpoint, this does not have to be the case. In today's technologically advanced age, there's no validation for preserving troublesome treatments. Payroll, the company's biggest expenditure, should be processed properly and on time. Even minor delays can negatively affect employees' wellness and have significant effects. Therefore, it's critical to focus on accurate and timely payments.
payroll team get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe 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 vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is an excellent first step um providing an end-to-end payroll solution for your workers internationally once again I think is another substantial um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of companies and decreasing the number of tools platforms and checking account they need for their International payroll too couldn't 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 thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how important 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 involved in those procedures and likewise so imagine sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and sort of try to return to everyone so proceeding appearance why do companies pick to primary different checking account there are businesses out there doing exactly this for specific nations and I've worked in a service or numerous organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we do not need to and anyone 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 lots of reasons one is it's the requirement I think people have got so used to we require a new savings account we open an entity and appropriately so you need 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 standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing but eventually people are extremely stuck to what they recognize
with best um modification is a hard thing we all don't like change um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining several checking account however there's a big amount of complexity opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big but I believe the honest answer is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly 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 nearly be determined to be the next Century or two there is a lot to keep track of and this approach does present a number of challenges um so Johnny could you inform us about those obstacles yeah naturally 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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