Find out more about Papaya Global Hr 100M Series Partners ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a secure and trusted technique of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Worker Website
Staff members have access to a Staff member Website 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 use competitive advantages packages to worldwide employees no matter the number of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every country, create regional accounts and have a minimum number of staff members.
The HR capabilities provided by Worldwide HR include various functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of inviting new workers and bidding goodbye to leaving ones, offering a secure online platform for keeping employees' files, and supplying support for work allow treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall employment expenses dispersed per place, total employment expenses per cycle and much more.
Worldwide, I have actually demonstrated management and strategic competence in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days 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 everyone is um it's nice to to type of like see where everyone originates from and I actually 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 raining here it's really very bleak and I want I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical possession uh we'll likewise review a wrap-up and that ought to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them ends up being a growing number of intricate Global companies are wanting to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment viewpoint numerous organizations maintain separate savings account just for payroll while some have multiple accounts in various countries does it make sense for companies to preserve separate savings account often in different nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international business enhance the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of reasons most significantly regulations compliance data security and banking rules then there are the sheer numbers they include further intricacy the worldwide Labor force is presently three and a half billion individuals 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 factor in that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating variety of different systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or really really standard there's no real consistency structure we're living 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 often with pen and paper which just blows my mind every time I I think
about it to give you an idea 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 provides me sleepless nights and rather honestly the more a service invests in global payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of global services have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors badly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're paying to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it need to be thought about there's varying 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 intricacy wherever you look ideal ultimately developing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble super payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm always impressed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the compensation landscape is becoming progressively complex. Services are constantly presenting brand-new advantages and payment options, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technically advanced age, there's no justification for preserving cumbersome treatments. Payroll, the company's most significant cost, should be processed correctly and on time. Even minor delays can negatively affect workers' well-being and have far-reaching effects. Therefore, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is a terrific first step um supplying an end-to-end payroll service for your employees worldwide once again I believe is another huge um process once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of services and lowering the variety of tools platforms and checking account they require for their Global 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 five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyway we understand 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 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 imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and sort of try to get back to everybody so carrying on appearance why do business pick to main different bank accounts there are businesses out there doing precisely this for specific nations and I've worked in an organization or numerous businesses doing precisely that I can say it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anybody where we do not have to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think individuals have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a process that requires looking at it needs changing but eventually individuals are extremely stuck with what they're familiar
with best um modification is a tough thing all of us do not like change um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping numerous bank accounts however there's a big quantity of complexity opts for establishing a checking account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the complexity is huge however I believe the sincere answer is modification um people haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep track of and this technique does position several obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety 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 acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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