Find out more about Papaya Global Contact Centre ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reliable technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Portal provides staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide staff members regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every country, produce regional accounts and have a minimum number of employees.
The HR capabilities offered by Global HR incorporate numerous functions such as keeping track of trip time, making sure compliance, assisting in the process of welcoming new workers and bidding goodbye to departing ones, using a secure online platform for keeping employees' files, and providing assistance for work allow procedures in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses dispersed per location, total employment costs per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Business clients and services as well as serving as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on providing 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, no matter your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the company side and also on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing 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 everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really dreary and I want I was somewhere else 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 Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most importantly regulations compliance data security and banking guidelines then there are the sheer numbers they add further complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's frequently a frustrating variety of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or extremely extremely basic there's no real consistency framework we're living 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 and that just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges company face when they're paying to staff members or otherwise that's a good question I always throw this back and say what is it what does not need to be included right and what does
it require to be considered there's differing Bank details 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 have 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 constructing a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end process 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 wellness being more and more important to contribute to kind of the level of intricacy there's more and more advantages being organ or being used by services throughout the world so again you're just wanting to include increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or real difficult type of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details 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 does not necessarily need to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any company has from a cost perspective from an effect point of view on workers it is absolutely important 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 well-being and numerous other factors if people aren't paid uh I have actually constantly been impressed coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be great 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 become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment option is a terrific initial step um supplying an end-to-end payroll option for your employees globally again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of companies and minimizing the number of tools platforms and checking account they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of 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 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 don't think any of us are in fact doing that for for the thanks
anyway we understand 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 easy as possible for everyone that's associated with those procedures and also so imagine sorry I'm just I was simply gon na state envision the quantity 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 envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying 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 need days of the week to try to check out them and in fact see what was going on and sort of try to return to everyone so proceeding look why do business choose to main different bank accounts there are businesses out there doing precisely this for particular nations and I've operated in a business or lots of services doing exactly that I can state it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for anybody where we don't have to and anybody 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 quantity that we are I believe lots of reasons one is it's the standard I think individuals have got so used to we need 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 standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs altering however eventually people are very stuck to what they recognize
with best um modification is a challenging thing all of us don't like modification um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping multiple checking account but there's a substantial amount of intricacy chooses setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is substantial but I think the honest response is modification um people have not had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is understanding you know and there is an element of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century or so there is a lot to keep an eye on and this approach does pose several challenges um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Business 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 acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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