Find out more about Papaya Global Cloud Install ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Website offers employees with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to worldwide employees despite the variety of staff members in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source local benefits companies in every nation, develop local accounts and have a minimum number of workers.
The HR abilities provided by Global HR incorporate numerous functions such as keeping track of holiday time, making sure compliance, facilitating the process of welcoming new workers and bidding farewell to leaving ones, providing a safe and secure online platform for storing workers' files, and supplying assistance for work permit treatments in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work costs distributed per location, total employment expenses per cycle and a lot more.
Internationally, I have demonstrated management and tactical expertise in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for managing payroll techniques, as discussed by Mark. My function involves managing and developing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite 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 organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a range of different functions on the company side and likewise on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well among 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 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 remains 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 really really gloomy 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 taking a look at the challenge years of handling International payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them ends up being increasingly more intricate Global companies are seeking to find Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment perspective many organizations maintain separate bank account just for payroll while some have multiple accounts in different countries does it make good sense for companies to keep separate checking account in some cases in various countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business streamline the episode complex procedures of
making payroll payments accurately efficiently firmly and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most notably policies compliance information security and banking guidelines then there are the large numbers they add further intricacy the global Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or very very fundamental there's no real consistency framework we're residing in a period 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 and that just blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on global payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the incorrect location 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 money around the globe payroll and payments do not run smoothly if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments viewpoint 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 concern I constantly toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely important but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing groups work closer together than ever um I'm always surprised when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more crucial to add to kind of the level of complexity there's increasingly more advantages being organ or being provided by companies throughout the world so once again you're just wanting to include a growing number of payments to this already complex landscape so if you type 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 challenges or genuine difficult type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an effect perspective on workers it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on people's wellness and numerous other aspects if people aren't paid uh I've constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. Therefore, it is vital to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first Global Payments first payroll payment service is a great initial action towards offering an extensive payroll service for staff members worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and savings account required for international payroll are crucial consider accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyway we know how how essential 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 everyone that's associated with those processes and also so picture sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and really see what was going on and kind of try to return to everyone so proceeding look why do companies choose to main separate savings account there are services out there doing exactly this for particular nations and I've worked in a service or lots of companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for any person where we do not need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have got so utilized to we need a brand-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 embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering but eventually individuals are really stuck with what they're familiar
with ideal um change is a tough thing all of us do not like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having preserving numerous savings account however there's a big quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is huge but I think the truthful response is change um people have not been able to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be determined to be the next Century approximately there is a lot to monitor and this approach does position numerous obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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