Find out more about Papaya Global Hr Software For Compliance ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and trusted technique of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies staff members with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global employees regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages suppliers in every nation, produce local accounts and have a minimum number of employees.
The HR abilities supplied by Global HR incorporate various functions such as keeping track of trip time, ensuring compliance, helping with the process of inviting brand-new employees and bidding goodbye to departing ones, providing a safe and secure online platform for saving workers' documents, and providing assistance for work permit treatments in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall work costs dispersed per place, total employment expenses per cycle and much more.
Internationally, I have shown leadership and tactical proficiency in guiding large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good night depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually type of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody 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 remains 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 extremely extremely bleak and I want I was somewhere else at this moment in time fine 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 managing Global payroll why business keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll also go over a wrap-up and that should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more typical and managing them ends up being increasingly more intricate Worldwide organizations are looking to discover Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment perspective lots of organizations maintain different bank account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain different savings account often in various nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession 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 variety of factors most notably guidelines compliance information security and banking rules then there are the sheer numbers they include additional intricacy the worldwide Labor force is presently 3 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 presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll model there's frequently a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or very extremely standard there's no genuine consistency structure we're living in a period 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 typically 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 organizations say they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of international services have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they rely on the needed several procedures systems and partners it is simply 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 making payments to employees or otherwise that's an excellent concern I always throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be considered there's differing Bank information 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 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 customer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if but 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 acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to sort of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely imperative that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation 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 ultimately 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 live in and well-being being a growing number of crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by services throughout the world so again you're just looking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine difficult sort of pay utilizes to play to pay people I believe 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 groups feeding details into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact perspective on employees it is definitely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful impact on individuals's well-being and lots of other aspects 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
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only see when things fail. However, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. Therefore, it is essential to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Using the first Global Payments first payroll payment solution is an excellent preliminary action towards offering a comprehensive payroll service for workers worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and checking account required for international payroll are key factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyhow 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 processes and likewise so envision sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh definitely I can't envision 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 actually see what was going on and sort of shot to return to everyone so proceeding appearance why do business pick to main different bank accounts there are companies out there doing exactly this for specific nations and I've worked in a service or lots of services doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't have to and anyone 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 think lots of reasons one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I think this is a process that needs taking a look at it requires changing but eventually individuals are very stuck with what they're familiar
with ideal um change is a hard thing all of us don't like change um so I believe it's just kind 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 undoubtedly the advantages of having preserving several bank accounts but there's a huge amount of intricacy chooses establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private individuals so the complexity is huge however I think the sincere answer is change um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a savings 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 change but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century approximately there is a lot to track and this approach does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Business 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 gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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