Find out more about Papaya Global Hr 40M Series Scale ... 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 dedicated to handling payments. This provides us with a secure and trusted approach of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app simplifies my payroll process, conserving me a significant quantity 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 professionals.
The Staff member Portal supplies workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to worldwide employees regardless of the number of staff members in the business. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source regional advantages service providers in every country, develop local accounts and have a minimum number of employees.
The HR abilities offered by Global HR encompass different functions such as keeping an eye on vacation time, ensuring compliance, facilitating the procedure of inviting brand-new workers and bidding farewell to departing ones, offering a secure online platform for saving workers' documents, and offering support for work allow procedures in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall work costs distributed per area, overall work costs per cycle and far more.
Internationally, I have demonstrated leadership and tactical competence in guiding large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for supervising payroll techniques, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've type of had a range of different functions on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes 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 raining here it's really really uninspiring and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a wrap-up and that must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and handling them ends up being increasingly more complex Worldwide organizations are wanting to discover Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment perspective lots of companies preserve different bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep separate checking account in some cases in various nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies streamline the episode complex procedures of
making payroll payments accurately effectively securely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most notably policies compliance data security and banking rules then there are the sheer numbers they include further complexity the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the conventional payroll design there's often a frustrating variety of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or really very standard there's no genuine consistency framework we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of an image they see an absence of exposure also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide organizations 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 mistakes are because of time reporting bad HCM information data entry errors poorly communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the average cost of a worldwide data 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 don't run smoothly if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's an excellent question I always toss this back and state what is it what does not require 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 time frames there's payment abilities so can you pay it from International or do you need 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 ideal ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 often 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 anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on wellness and the compensation landscape is becoming significantly elaborate. Organizations are constantly introducing brand-new benefits and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technologically innovative period, there's no validation for keeping cumbersome treatments. Payroll, the business's greatest expenditure, must be processed properly and on time. Even small delays can negatively affect workers' wellness and have far-reaching effects. Therefore, it's critical to prioritize precise and timely payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. Therefore, it is necessary to make sure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the very first International Payments very first payroll payment option is a great preliminary step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and savings account needed for worldwide payroll are essential factors in attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
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 everybody that's associated with those processes and likewise so envision sorry I'm just I was simply gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions envision 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 but it would absolutely be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and type of shot to return to everyone so carrying on appearance why do business select to main separate checking account there are organizations out there doing exactly this for particular nations and I've operated in a business or numerous companies doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't have to and any person that's handling 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 amount that we are I believe many reasons one is it's the requirement I believe people have got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it requires changing but ultimately individuals are really stuck with what they're familiar
with ideal um modification is a challenging thing we all do not like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining numerous savings account however there's a substantial quantity of intricacy goes with establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is substantial but I think the sincere answer is change um individuals have not been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or two 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 challenges yeah naturally so there's a range right there is so
I 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 seems like our CFO has actually gotten another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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