Find out more about Papaya Global Courses Pitman Cost ... 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 actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a protected and reputable technique of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Worker Portal supplies workers with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to worldwide employees no matter the number of staff members in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, create local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total work costs distributed per place, overall employment costs per cycle and far more.
Worldwide, I have shown management and tactical expertise in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My function includes managing and developing external collaborations, 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.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to satisfy you and thank you for your important 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 concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of various functions on the company side and likewise on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains 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 very extremely dreary and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add more complexity the global Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll design there's typically a frustrating variety of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or really extremely standard there's no real consistency framework we're living in a period of tech but payroll has been slow 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 provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of international businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is delivered to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they count on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business 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 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 country there's payment timespan there's payment abilities 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 customer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super 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 recognition that payroll payments are absolutely fundamental and innovation is allowing us to type of move forward with that it also also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always impressed when people state I have actually divided 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 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to sort of the level of intricacy there's more and more advantages being organ or being offered by services across the world so once again you're simply wanting to include more and more payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine tough sort of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of years I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any service has from an expense perspective from an effect point of view on employees it is absolutely critical that it's done correctly and on time so what we suggest 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 harmful impact on individuals's well-being and lots of other factors if individuals aren't paid uh I have actually constantly been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just discover when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other crucial matters are done properly. Using the very first Worldwide Payments first payroll payment option is a terrific preliminary step towards providing a detailed payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account necessary for international payroll are crucial factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we understand how how essential 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 simple as possible for everyone that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and type of try to get back to everyone so carrying on look why do business choose to primary different checking account there are businesses out there doing exactly this for particular nations and I have actually operated in a business or lots of businesses doing precisely that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I think individuals have actually got so used to we require 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 think it's just been the requirement and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it requires changing however eventually individuals are extremely stuck with what they recognize
with ideal um change is a hard thing we all do not like change um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining several savings account however there's a big amount of intricacy opts for establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is big but I believe the truthful answer is modification um people have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century approximately there is a lot to monitor and this approach does pose several challenges um so Johnny might you inform us about those challenges yeah of course 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 handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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