Find out more about Papaya Global Affiliate Program ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This offers us with a protected and dependable method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll procedure, conserving me a significant quantity of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles 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 work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international employees no matter the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every nation, create local accounts and have a minimum number of workers.
The HR abilities supplied by Worldwide HR encompass different functions such as monitoring vacation time, ensuring compliance, facilitating the procedure of inviting brand-new workers and bidding farewell to leaving ones, using a safe and secure online platform for saving workers' files, and offering support for work allow procedures in case your staff members require help 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 location, total employment expenses per cycle and much more.
Internationally, I have shown leadership and tactical expertise in directing large-scale populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and labor force management to all worker key ins 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 obviously thank you good morning excellent afternoon excellent night depending on where you remain in the world it's charming to fulfill 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 ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've type of had a variety of different functions on the supplier side and also on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very dreary and I want I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most notably regulations compliance information security and banking guidelines then there are the large numbers they include more complexity the global Workforce is presently 3 and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's frequently a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very very fundamental there's no genuine consistency framework we're residing in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every 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 say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the typical expense of an international 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 don't run smoothly if they rely on the essential several processes 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 challenges company face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included ideal and what does
it need 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 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 client's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they are like extremely 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 between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to sort of move forward with that it likewise too to add to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to add to type of the level of complexity there's increasingly more advantages being organ or being offered by businesses throughout the world so once again you're just looking to include increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real challenges or real difficult type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you know 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 said payroll is the single biggest liability that any organization has from an expense point of view from an effect perspective on employees it is absolutely important that it's done properly 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 biggest detrimental effect on individuals's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a terrific primary step um offering an end-to-end payroll solution for your staff members internationally once again I think is another huge um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of businesses and minimizing the number of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was simply 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 hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and type of try to get back to everyone so moving on appearance why do companies select to main separate bank accounts there are businesses out there doing exactly this for particular nations and I have actually operated in a business or numerous services doing exactly that I can state it doesn't 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 do not need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I believe people have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are very stuck to what they're familiar
with right um change is a hard thing we all don't like change um so I believe it's just sort 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 clearly the advantages of having keeping multiple savings account but there's a substantial amount of complexity goes with setting up a savings account keeping it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is substantial however I think the truthful answer is change um people have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could almost be identified to be the next Century approximately there is a lot to monitor and this approach does posture a number of challenges um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Enterprise 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 International employees you are worthy of a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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