Find out more about Papaya Global Course Nar Me ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and reputable method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Worker Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to worldwide workers no matter the number of workers in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR include numerous functions such as keeping an eye on trip time, ensuring compliance, facilitating the procedure of welcoming brand-new employees and bidding farewell to leaving ones, providing a safe online platform for storing employees' files, and offering support for work allow procedures in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment costs distributed per location, total employment expenses per cycle and far more.
Globally, I have demonstrated leadership and tactical proficiency in guiding massive populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of influential business worldwide we offer payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending upon where you are in the world it's charming to satisfy 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 market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give 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 kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly 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 raining here it's very really bleak and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most significantly policies compliance data security and banking guidelines then there are the large numbers they include further complexity the international Workforce is currently 3 and a half billion people 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 businesses and growing all doing their own thing worldwide in the standard payroll design there's often a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really fundamental there's no genuine consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of an image they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they depend on the necessary numerous 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 organization face when they're paying to employees or otherwise that's a great question I always toss this back and say what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 consumer's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link in 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 innovation is permitting us to kind of move on with that it likewise also to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to contribute to sort of the level of intricacy there's increasingly more advantages being organ or being used by services throughout the world so again you're just looking to add a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or real difficult type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would certainly say that the bigger a service 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 information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any service has from an expense point of view from an impact viewpoint on staff members it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive effect on individuals's wellness and many other factors if people aren't paid uh I've always been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is a great initial step um supplying an end-to-end payroll solution for your employees internationally once again I believe is another substantial um procedure again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of businesses and decreasing the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've 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 rather where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
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 simple as possible for everyone that's involved in those procedures and likewise so envision sorry I'm simply I was just gon na say picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task attempting to clean up 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 attempt to browse them and actually see what was going on and sort of try to get back to everybody so proceeding look why do business pick to main separate bank accounts there are businesses out there doing precisely this for particular countries and I have actually worked in a service or lots of companies doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not need to and anybody that's managing that process 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 believe people have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety 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 gone past to contribute to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing however eventually individuals are really stuck with what they recognize
with ideal um modification is a tough thing all of us do not like change um so I believe it's simply type 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 undoubtedly the advantages of having preserving several checking account but there's a huge amount of complexity goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is substantial however I believe the honest response is change um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or two there is a lot to monitor and this technique does pose numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 staff members 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 achievements.
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