Find out more about Papaya Global Community ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and trusted method of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app simplifies my payroll procedure, conserving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Staff member Website supplies staff members with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to worldwide workers regardless of the variety of workers in the business. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR encompass various functions such as keeping track of trip time, guaranteeing compliance, facilitating the procedure of welcoming new employees and bidding farewell to leaving ones, providing a safe online platform for storing workers' documents, and supplying assistance for work permit treatments in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall employment costs distributed per location, total work expenses per cycle and far more.
Globally, I have actually shown management and tactical expertise in assisting large-scale populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for managing payroll methods, as discussed by Mark. My role includes handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for a lot of prominent business in the world we provide payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great night depending on where you are in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've sort of had a variety of different roles on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is 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 very really uninspiring and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most notably guidelines compliance data security and banking rules then there are the sheer numbers they add additional intricacy the international Workforce 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 presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll model there's frequently a frustrating number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or really really basic there's no real consistency structure we're living in an age 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 often with pen and paper and that just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a business spends on international payroll the less of an image they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services 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 mistakes are because of time reporting poor HCM information information entry mistakes badly communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is shipped to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's a good question I always 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 of there's differing Bank information 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 capabilities 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of move forward with that it likewise too to add to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm constantly astonished when individuals say 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 computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to kind of the level of complexity there's more and more advantages being organ or being provided by services across the world so once again you're just aiming to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you know 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 create additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense point of view from an effect viewpoint on staff members it is absolutely vital that it's done properly 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 biggest harmful result on people's wellness and many other factors if individuals aren't paid uh I have actually always been amazed entering this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just notice when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is necessary to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the first Global Payments first payroll payment option is a great initial step towards providing a thorough payroll service for employees worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and checking account needed for worldwide payroll are key consider achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how crucial 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 likewise so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean 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 check out them and actually see what was going on and kind of try to return to everyone so carrying on appearance why do companies select to main separate bank accounts there are organizations out there doing exactly this for particular countries and I have actually worked in a service or lots of businesses doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't have to and anybody that's handling 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 think lots of factors one is it's the requirement I think people have got so utilized to we need a brand-new savings 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 standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that needs looking at it needs altering however eventually people are extremely stuck with what they're familiar
with ideal um modification is a hard thing all of us do not like modification um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping multiple bank accounts but there's a huge amount of complexity chooses establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific people so the complexity is big however I think the sincere answer is change um people haven't been able to change or have not had necessarily 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 understand and there is an aspect of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to monitor and this method does present several difficulties um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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