Find out more about Papaya Global Hq ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and dependable approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Staff member Portal provides workers 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 numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to global workers regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of staff members.
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 gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per area, total employment costs per cycle and far more.
Globally, I have shown leadership and strategic proficiency in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your valuable 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 industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two 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 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 everyone comes 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 raining here it's extremely really gloomy and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business keep separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the international 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 improving International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most significantly policies compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the worldwide Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll model there's often an overwhelming number of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or very very fundamental there's no real consistency structure 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 which just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide organizations 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 mistakes are because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what does not require to be included ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities 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 consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely important however 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 take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to add to kind of the level of intricacy there's a growing number of benefits being organ or being offered by organizations throughout the world so again you're just looking to include more and more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real obstacles or real difficult type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of decades I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions 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 handling the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and a period 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 concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on employees it is definitely important that it's done properly and on time so what we mean 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 detrimental result on people's wellness and many other elements if people aren't paid uh I've constantly been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is an excellent initial step um supplying an end-to-end payroll solution for your staff members globally again I think is another big um procedure again aligning and ensuring you have standardization International procedures all of those things are definitely key to success success of services and decreasing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not 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 do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how crucial a function 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 involved in those procedures and likewise so think of sorry I'm simply I was simply gon na state picture 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 potentially Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh definitely 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 try to check out them and actually see what was going on and type of try to get back to everyone so moving on look why do companies select to main separate savings account there are organizations out there doing exactly this for specific countries and I have actually operated in a business or many companies doing precisely that I can say it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing extra work for anyone where we do not need to and anybody that's dealing with 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 many factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually 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 lots of other methods um to to type of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires altering however eventually people are extremely stuck to what they're familiar
with ideal um change is a hard thing we all don't like change um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having keeping multiple bank accounts however there's a big quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is huge however I think the sincere answer is modification um people have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we've always done it that way is no real 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 figured out to be the next Century approximately there is a lot to keep an eye on and this method does present numerous difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just 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 actually acquired another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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