Find out more about Papaya Global Hr Software ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This provides us with a secure and reliable approach of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Portal offers staff members with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to worldwide staff members regardless of the variety of staff members in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every country, produce local accounts and have a minimum variety of employees.
The HR capabilities provided by Worldwide HR incorporate various functions such as keeping an eye on trip time, ensuring compliance, facilitating the procedure of inviting new employees and bidding farewell to departing ones, providing a safe online platform for keeping workers' documents, and supplying support for work permit procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total work costs distributed per area, total employment expenses per cycle and a lot more.
Worldwide, I have actually shown management and strategic expertise in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment 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 focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've sort of had a range of different roles on the company side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it is 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 very really bleak and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most notably policies compliance data security and banking rules then there are the large numbers they include additional complexity the global Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's often a frustrating number of various systems causing 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 real consistency framework we're living in a period 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 and that simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on international payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of global companies 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 errors are due to time reporting bad HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they resemble very payments no if but 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 believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to sort of progress with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation 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 information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the settlement landscape is ending up being significantly detailed. Services are constantly introducing brand-new advantages and payment choices, which adds to the total intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technically advanced age, there's no validation for keeping troublesome procedures. Payroll, the business's biggest cost, must be processed correctly and on time. Even small delays can adversely impact staff members' well-being and have far-reaching consequences. For that reason, it's vital to prioritize accurate and prompt payments.
payroll group get um so I'm unsure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout 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 absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent first step um providing an end-to-end payroll solution for your employees internationally again I think is another substantial um procedure again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of businesses and reducing the number of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 involved in those procedures and likewise so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and kind of try to return to everybody so carrying on appearance why do business choose to main separate bank accounts there are businesses 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 create more work I know we're not purposely doing that we're not producing extra 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 quantity that we are I think lots of reasons one is it's the requirement I think people have got so used to we need a brand-new savings account we open an entity and rightly 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 standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I think this is a procedure that requires looking at it requires changing but ultimately individuals are really stuck with what they're familiar
with right um change is a difficult thing all of us do not like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping multiple checking account but there's a big quantity of complexity chooses establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific people so the complexity is substantial however I think the honest response is modification um individuals have not been able to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or so there is a lot to keep track of and this technique does posture several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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