Find out more about Papaya Global Hr 100M Capital Partners ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and reputable method of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app enhances my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global workers no matter the number of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every nation, create regional accounts and have a minimum number of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work expenses distributed per area, total work expenses per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business managing and building external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to meet 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 decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or so 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 already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly 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 really very dreary and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why business keep separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also provide a recap of the main points 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 worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the large numbers they include additional intricacy the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 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 traditional payroll model there's frequently an overwhelming variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or really very fundamental there's no real consistency structure 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 and that just blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide services 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 errors are due to time reporting poor HCM data information entry errors poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the average 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 needed multiple processes 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 obstacles service face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be included ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to type of move on with that it also also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to add to kind of the level of complexity there's a growing number of advantages being organ or being used by companies across the world so again you're just seeking to add increasingly more payments to this currently complex landscape so if you kind 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 real challenges or genuine challenging type of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things but 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 extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and an age that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any company has from an expense point of view from an effect viewpoint on employees it is definitely critical 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 most significant destructive effect on individuals's well-being and numerous other factors if people aren't paid uh I have actually always been astonished entering this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment solution is a terrific first step um providing an end-to-end payroll solution for your employees globally once again I think is another huge um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of organizations and minimizing the variety of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 imagine sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean 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 attempt to look through them and actually see what was going on and sort of shot to return to everybody so moving on look why do business pick to primary different savings account there are organizations out there doing precisely this for specific nations and I've worked in a business or many companies doing precisely that I can say it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anyone where we don't have to and any person that's dealing with 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 believe lots of factors one is it's the standard I think individuals have got so used to we need a new bank account we open an entity and appropriately 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 simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but ultimately people are extremely stuck to what they recognize
with best um modification is a challenging thing all of us do not like change um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping multiple checking account however there's a huge amount of complexity chooses setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is huge however I think the honest response is change um people have not had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or so there is a lot to monitor and this technique does position a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply did you switched our Enterprise 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 Worldwide staff members you are worthy of a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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