Find out more about Papaya Global Criteria Tab ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a secure and reputable method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Worker Portal provides staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to international workers despite the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total employment costs dispersed per area, overall work costs per cycle and far more.
Internationally, I have actually demonstrated leadership and strategic knowledge in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for managing payroll strategies, as pointed out by Mark. My function includes handling and establishing external collaborations, supporting Enterprise 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.
business to make the time 100 list for most influential business on the planet we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good night depending on where you remain in the world it's lovely to meet 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 have actually been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely bleak and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. 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 likewise offer 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 worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the international Labor force is presently three 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 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 worldwide in the standard payroll design there's typically an overwhelming variety of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or really extremely standard there's no real consistency framework we're residing in an era of tech however 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 an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in international payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it 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 once 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 needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're making payments to staff members or otherwise that's a good question I constantly throw this back and state what is it what does not require to be included ideal and what does
it require to be considered there's varying 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 abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is definitely critical but everywhere you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to type of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work more detailed together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry 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 people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming significantly detailed. Businesses are constantly introducing brand-new benefits and payment options, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated period, there's no reason for keeping cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight hold-ups can negatively impact staff members' well-being and have significant effects. Therefore, it's vital to focus on accurate and timely payments.
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just see when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. For that reason, it is necessary to make sure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first Global Payments first payroll payment solution is a terrific initial step towards providing an extensive payroll option for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account required for global payroll are crucial factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyway we know 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 easy as possible for everyone that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and kind of shot to get back to everyone so moving on appearance why do business choose to primary separate savings account there are companies out there doing precisely this for particular countries and I've operated in a business or many companies doing precisely that I can state it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not need to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I believe people have got so utilized to we require a brand-new checking account we open an entity and appropriately 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 just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I believe this is a procedure that requires looking at it needs changing however eventually individuals are very stuck with what they recognize
with best um change is a challenging thing all of us don't like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having keeping multiple savings account but there's a huge amount of complexity opts for setting up a bank account keeping 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 but I think the honest answer is modification um individuals have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides 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 have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could practically be identified to be the next Century or so there is a lot to track and this technique does position a number of obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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