Find out more about Papaya Global Jobs ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to international workers no matter the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits service providers in every nation, produce local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment expenses distributed per location, overall employment costs per cycle and far more.
Internationally, I have shown management and strategic expertise in directing large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various roles on the company side and likewise on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 drizzling here it's very extremely uninspiring and I wish I was elsewhere 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 difficulty years of handling International payroll why business maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical property uh we'll likewise discuss a recap and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and handling them becomes more and more complex International companies are seeking to discover Solutions and new ways to enhance processes particularly from a payroll and cross-border payment perspective lots of organizations maintain different checking account just for payroll while some have several accounts in different countries does it make sense for business to preserve different bank accounts often in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies streamline the episode complex processes of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they add more intricacy the international Workforce is currently 3 and a half billion individuals 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 services and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating number of various systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or really extremely fundamental there's no genuine consistency structure we're living in a period of tech however payroll has been slow 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 think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide services have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and then when you round everything off and the data is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's a great question I constantly throw this back and state what is it what does not require to be consisted of right 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 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 need to pay from the client's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 innovation is enabling us to sort of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the payment landscape is becoming significantly complex. Services are continuously presenting new advantages and payment options, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically advanced era, there's no validation for maintaining cumbersome treatments. Payroll, the company's greatest expense, need to be processed properly and on time. Even slight hold-ups can negatively impact workers' wellness and have far-reaching consequences. For that reason, it's important to focus on precise and timely payments.
payroll team get um so I'm uncertain anybody on this kind 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 workers or not um but ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the first Global Payments first payroll payment solution is an excellent initial step um offering an end-to-end payroll service for your employees worldwide once again I think is another substantial um process once again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of services and decreasing the variety of tools platforms and savings account they require for their International 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 have actually never had a hundred thousand of 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 complaints where things have not gone quite where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyway we know how how important 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 everybody that's associated with those procedures and likewise so imagine sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely 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 browse them and really see what was going on and sort of shot to return to everyone so proceeding look why do business pick to primary different savings account there are businesses out there doing exactly this for particular nations and I've worked in an organization or many businesses doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anybody that's managing that procedure 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 believe people have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have 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 ways um to to type of do it so I believe there's a range I believe this is a process that needs looking at it needs changing however ultimately individuals are extremely stuck to what they're familiar
with best um change is a tough thing all of us do not like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having maintaining multiple savings account but there's a huge amount of complexity goes with establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is big but I think the sincere answer is modification um people have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this technique does pose numerous challenges 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 changed 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 International staff members you are worthy of a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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