Find out more about Papaya Global Courses In London ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and trustworthy method of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Website provides workers with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps business use competitive advantages plans to worldwide staff members regardless of the variety of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of staff members.
The HR abilities offered by International HR incorporate different functions such as keeping track of trip time, making sure compliance, facilitating the process of welcoming brand-new employees and bidding farewell to leaving ones, providing a secure online platform for storing workers' documents, and supplying assistance for work permit procedures in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total work costs distributed per place, total work expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic competence in assisting massive populations of over 100,000 staff members across 170 nations. Currently, I am responsible for supervising payroll methods, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've type of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll type 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 sort of like see where everybody originates from and I really do hope it's much sunnier than it is 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 very gloomy 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 looking at the difficulty years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most importantly regulations compliance data security and banking rules then there are the large numbers they include further intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or really very basic there's no genuine consistency framework we're residing 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 simply blows my mind each time I I believe
about it to give 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 offers me sleepless nights and rather honestly the more a business invests in international payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the required numerous 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 obstacles company face when they're making payments to employees or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super 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 think there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate 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 often split and cut up um eventually 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 however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to kind of the level of intricacy there's increasingly more benefits being organ or being used by organizations across the world so again you're simply wanting to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or real challenging type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we operate in they simply make them more prompt 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 working in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost perspective from an impact viewpoint on staff members it is absolutely 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 need to be done right it has the greatest damaging impact on individuals's well-being and many other factors if individuals aren't paid uh I have actually constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just observe when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is essential to guarantee that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a fantastic preliminary action towards providing a thorough payroll solution for staff members worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and checking account needed for global payroll are key consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand how how crucial a function 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 everyone that's associated with those procedures and also so think of sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing 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 was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of try to get back to everybody so moving on appearance why do companies select to main separate savings account there are services out there doing precisely this for particular nations and I have actually worked in a company or many companies doing exactly that I can state it does not constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not have to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I believe individuals have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing however ultimately people are really stuck to what they're familiar
with best um modification is a difficult thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping several savings account but there's a big amount of intricacy goes with setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is big but I believe the sincere response is modification um individuals haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep track of and this approach does present several obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I just did you switched our Business 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 Global employees you should have a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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