Find out more about Papaya Global Acquisition ... 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 gotten a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and reputable approach of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to global workers no matter the number of workers in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of staff members.
The HR abilities offered by Global HR encompass different functions such as keeping track of getaway time, guaranteeing compliance, facilitating the procedure of inviting brand-new employees and bidding farewell to leaving ones, using a safe online platform for keeping workers' documents, and supplying assistance for work allow treatments in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs distributed per location, total work costs per cycle and far more.
Globally, I have shown management and tactical competence in assisting massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for many influential business in the world we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent night depending on where you remain in the world it's lovely to meet you and thank you quite 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 industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of various functions on the supplier side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly 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 drizzling here it's very very uninspiring and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise supply a wrap-up 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 during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most significantly policies compliance data security and banking guidelines then there are the sheer numbers they include additional intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's approximated 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 worldwide in the standard payroll design there's often a frustrating variety of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or extremely very standard there's no real consistency structure we're residing 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 typically with pen and paper and that simply blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a business spends on global payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed 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 information information entry mistakes improperly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they count on the essential several procedures 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 business face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought about there's differing 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 customer's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and technology is permitting us to kind of move on with that it likewise as well to add to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate 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 data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to add to type of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so again you're just looking to include more and more payments to this currently 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 real obstacles or real challenging kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would certainly say that the larger a company 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 teams feeding info into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from a cost point of view from an effect point of view on employees it is definitely 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 biggest damaging impact on people's wellness and lots of other aspects if people aren't paid uh I've always been astonished entering this Market sort of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally as well. Therefore, it is important to make sure that tasks like Wi-Fi International and other essential matters are done properly. Using the first Global Payments very first payroll payment service is a fantastic initial action towards supplying a thorough payroll solution for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are key consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyhow we know how how crucial 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 everybody that's involved in those procedures and also so imagine sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and really see what was going on and type of shot to return to everybody so carrying on appearance why do companies choose to primary different checking account there are services out there doing precisely this for particular nations and I've operated in a business or numerous services doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we don't have to and any person 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 amount that we are I think lots of reasons one is it's the requirement I think people have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just 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 actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but ultimately individuals are very stuck to what they recognize
with right um modification is a hard thing all of us don't like change um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining several savings account but there's a huge amount of intricacy opts for establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is big however I think the sincere response is change um people have not had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep track of and this technique does position a number of challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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